Fun

Ethereum Reaches $4,100 For The First Time In Over Three Years, Aiming For $5,000 Next

News Feed - 2024-12-17 08:12:45

Este artículo también está disponible en español.


For the first time in over three years, Ethereum (ETH) has reached the significant price milestone of $4,100. This level has proven to be a key resistance point for investors, especially as the leading altcoin struggled to breach it during the bullish momentum experienced in the first quarter of this year. Poised For Rally If It Breaks $4,000-$4,100 Resistance?


The renewed bullish sentiment among crypto investors has led analysts to forecast potential new all-time highs for Ethereum, surpassing its previous recordof $4,878, set in November 2021. 


For instance, crypto analyst Justin Bennett noted on social media platform X (formerly Twitter) that ETH had previously faced technical barriers in surpassing the $4,000 threshold and acknowledged that Bitcoin has been the focal point of market attention in December. Related Reading MicroStrategy Raises Stakes, Acquires $1.5 Billion In Bitcoin Amid Positive Market Outlook 22 hours ago


However, the analyst emphasizedthat if ETH’s price can successfully navigate the critical $4,000 to $4,100 range in the short term, it could pave the way for a rally back toward its all-time high zone, with the potential to reach mid-$5,000 levels, thereby completing the current bullish channel for the altcoin. 


Bennet also suggested that now is the opportune moment for the ETH price to target a new all-time high as he believes that the altcoin could see “some of those Bitcoin (BTC) profits” flow into the Ethereum market soon. Ethereum Price To Reach $15,937 By May 2025?  


Adding to this bullish outlook, market expert VentureFounder shared even more optimistic predictions, anticipating an extended bullish momentum for ETH over the next seven months, and projecting it to reach a new all-time high of $15,937 by May 2025.


VentureFounder linked this forecast to historical patterns, noting that the first quarter following Bitcoin’s Halving events typically initiates a surge toward new record highs. He further indicated that Ethereum often enjoys a year of strong performance after such Halving events, the latest of which occurred in April of this year.


This year has already seen significant similarities with the past for both Bitcoin and Ethereum. Prior to Bitcoin’s Halving, the cryptocurrencyexperienced a substantial rally, fueled in part by the approval of spot Bitcoin exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC).  Related Reading The $589 XRP Dream: Believers Aren’t ‘Delusional’ Enough, Expert Says 1 day ago


At the time, the Bitcoin price reached a new all-time high just above $70,000 in March, and it has since risen by more than 50% to a new record of $107,000, despite challenging second and third quarter price action.


Ethereum also experienced significant growth, posting its strongest first quarter in more than three years, rising from $2,260 in February to nearly 100% in just 30 days. However, it remained below the $4,100 threshold until recently, consistent with Bitcoin’s increasing trajectory.


Overall, VentureFounder’s analysis, together with the price movements of both Ethereum and Bitcoin this year, gives a solid foundation for believing that ETH may be poised for significant rises in the coming months if the experts’ projections and prior patterns hold true.  The daily chart shows ETH’s price trending upwards. Source:ETHUSDT on TradingView.com


At the time of writing, ETH is attempting to consolidate at around $4,014. This level will be crucial for determining whether further upward momentum will occur in the coming days or if additional tests of price supportare on the horizon.


Featured image from DALL-E, chart from TradingView.com

News Feed

Bitcoin Under Siege: Bearish Pressure Keeps Price Below $99,575
Este artículo también está disponible en español. Bitcoinis under intense bearish pressure as it struggles to reclaim the $99,575 mark, a key resistance level that has pr
Nigerian Crypto Exchange Roqqu Gets European Union Virtual Currency License
Nigerian Crypto Exchange Roqqu Gets European Union Virtual Currency License The Nigerian crypto exchange Roqqu recently announced that it obtained a virtual currency license that a
Court Documents Say FTX Boss Ryan Salame Snitched on SBF 2 Days Before the Bankruptcy Filing
Court Documents Say FTX Boss Ryan Salame Snitched on SBF 2 Days Before the Bankruptcy Filing According to court documents associated with the FTX bankruptcy proceedings, on Nov. 9
Price analysis 4/10: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB
Rakesh Upadhyay4 hours agoPrice analysis 4/10: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIBBitcoin is witnessing a tough battle between the bulls and the bears near the $69,000 level with buyers holding a slight e
Troubled Crypto Hedge Fund 3AC Reprimanded by Singapore’s Monetary Authority, Liquidators Eye Su Zhu’s Properties
Troubled Crypto Hedge Fund 3AC Reprimanded by Singapore"s Monetary Authority, Liquidators Eye Su Zhu"s Properties On Wednesday, it was reported that the crypto hedge fund Three Arr
Jesse Coghlan3 hours agoGary Gensler’s Bitcoin ETF position is ‘inconsistent’… says Gary GenslerDuring a panel at the 2019 MIT Bitcoin Expo, Gensler called out the securities regulator for its “inconsistent”
Samsung’s Asset Management Arm Launches Bitcoin Futures ETF in Hong Kong
Samsung"s Asset Management Arm Launches Bitcoin Futures ETF in Hong Kong Samsung’s asset management arm has launched a bitcoin futures exchange-traded fund (ETF). The new act
Ethereum Pulls Back To 20DMA After $2,700 Rejection: Testing Strength At Key Support
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Amaka Nwaokocha2 hours agoRep. Tom Emmer sponsors amendment to limit SEC’s crypto oversightEmmer intends to introduce an appropriations amendment that will limit the SEC’s utilization of funds for digital asset enfor
Fund Manager Says Bitcoin Will Crush Gold, Hit $1 Million By 2029
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bitcoin, Ethereum Technical Analysis: ETH Remains Above $2,000, While BTC Recaptures $30K Level
Bitcoin, Ethereum Technical Analysis: ETH Remains Above $2,000, While BTC Recaptures $30K Level BTC moved away from Monday’s lows to surge above $30,000 on Tuesday, as crypt
Tom Mitchelhill7 hours agoCryptoqueen’s OneCoin legal chief pleads guilty to fraudThe former head of legal and compliance at OneCoin faces up to 10 years in prison for her role in the $4 billion crypto trading scheme.2