Originally published on: December 14, 2024
Market analysts are forecasting a promising future for Ethereum as it gears up to potentially surpass its previous all-time high in the first quarter of 2025. Despite Bitcoin’s recent record-breaking surge, Ether has struggled to maintain its ground above the $4,000 mark. However, experts believe that the recent crypto market deleveraging could pave the way for Ether to make significant gains.
According to a report by Bybit and Block Scholes, the reduced leverage in the market indicates a reset in leveraged long exposure, setting the stage for Ether to rally to new heights in the coming months. Analysts at Bybit even predict a new all-time high for Ethereum in Q1 of 2025, emphasizing the strength of ETH in derivative markets.
While Bitcoin has been the more lucrative investment option in 2024, with a 54% increase in value compared to Ether’s 12% return, Ethereum is showing signs of potential growth. Technical analysis suggests that Ether may be eyeing a rally towards $8,800, with the key resistance level at $4,100 holding the key to its upward trajectory.
Historically, Ether has followed a pattern of outperforming Bitcoin in the months following the Bitcoin halving cycle, suggesting that Ethereum could soon gain more momentum. The growing investor interest in Ether is further highlighted by the surge in newly created wallets, indicating a bullish sentiment surrounding the cryptocurrency.
While some market participants are setting conservative price targets for Ether, such as a $6,000 cycle top, others remain optimistic about its future potential. As Ether prepares to make its mark in the crypto world in 2025, all eyes are on this innovative digital asset.