Ethereum (ETH) has experienced a solid 65% gain this year, but its price growth has been overshadowed by Bitcoin (BTC) and other major cryptocurrencies like Solana (SOL) and XRP. Despite this, analysts are increasingly optimistic about ETH’s future, with some predicting that the second-largest cryptocurrency could soon reach significant price milestones.
Though Ethereum’s price rise in 2024 is respectable, it has not been as dramatic as other assets in the crypto market. ETH started the year at around $2,350 and has recently been trading above $3,800, a 65% increase. While this growth is steady, it’s often considered average for crypto during a bull run. However, some analysts believe Ethereum is on the verge of a breakout that could push it to new heights.
One such analyst, CryptoKaleo, suggests that Ethereum could hit $15,000, more than three times its current price, and sees the ETH/BTC ratio potentially climbing to 0.1 by 2025. This would indicate that Ethereum is outperforming Bitcoin for the first time in a while, as the ETH/BTC ratio has been in a downtrend for over two years.
In technical terms, Ethereum has recently broken out above a key resistance level, which could signal the start of a bullish move. Some analysts suggest that if ETH surpasses $4,100, it may target its all-time high of $4,865. Meanwhile, the futures market shows that there’s less speculative leverage, which could provide a more stable foundation for further growth.
In addition to technical analysis, Ethereum’s fundamentals are improving, with rising staking inflows reinforcing its long-term potential. Currently, ETH is priced at $3,925, though it’s seen a slight dip of 0.8% in the past 24 hours.
Активен крипто трейдър, следи и новини, свързани с акции, S&P500 и злато. Деян обича да спортува активно, тренира редовно, занимава се с калистеника. Обича и да чете Sci-Fi книги, когато му остане време.