Ethereum Growth – Are Five-Digits Next in 2025?
Ethereum has experienced a significant recovery, currently trading at $3,474, an increase of 8.50% in the last 24 hours, with a substantial trading volume of $49.95 billion. Market analysts, such as Guy Turner from CoinBureau, are closely monitoring the trajectory of ETH and suggesting the possibility of reaching five-digit valuations by 2025.
These predictions are based on technical analysis and broader market trends, highlighting Ethereum’s potential to surpass its previous peak price.
Ethereum’s Historical Highs and New Expectations
In November 2021, Ethereum reached its all-time high of $4,878. Turner believes that surpassing this level could propel the cryptocurrency to new price ranges, with $7,300 being a significant target based on Fibonacci extensions. The 1.618 Fibonacci level is widely recognized as a critical indicator for price expansions beyond previous highs.
Despite its recent momentum, Ethereum continues to lose value against Bitcoin, currently trading at $98,368. Turner emphasizes the importance of Ethereum regaining resistance against Bitcoin to unlock its full price potential.
However, Ethereum’s performance is heavily influenced by Bitcoin’s trajectory, as both assets maintain a close correlation.
Bitcoin’s Role in Ethereum’s Outlook
Turner suggests that if Bitcoin reaches $200,000 by 2025, Ethereum could potentially surge to $14,600. This projection relies on increased investment interest in Ethereum as Bitcoin’s price rises. The analyst believes that surpassing Ethereum’s previous all-time high would indicate price discovery, leading to new peaks for the asset.
However, Turner also advises caution and points out the volatility in the crypto market. While his predictions offer valuable insights, he urges investors to carefully assess risk factors before making decisions. Ethereum, currently trading at $3,686, remains under scrutiny as it navigates critical resistance and support levels.
Ethereum Technical Outlook – December 21, 2024
Ethereum’s short-term price action reveals significant resistance at $3,550, where a downward trendline converges with a supply zone. This level, previously a support area, has now turned into resistance, creating a challenging environment for bullish momentum.
Key resistance levels include $3,550, $3,717, and $3,897. On the downside, Ethereum finds immediate support at $3,252, with further levels at $3,097 and $2,940. The Relative Strength Index (RSI) currently stands at 46, indicating neutral to slightly bearish conditions.
Meanwhile, the 50-day Exponential Moving Average (EMA) is below the current price, reinforcing tentative recovery trends.
A breakout above $3,550 could trigger bullish momentum, opening the door for higher targets. Conversely, failure to surpass this level may lead to renewed selling pressure, with Ethereum retesting support zones.
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Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes only and does not constitute investment advice. You could lose all of your capital.