Originally published on: December 06, 2024
The price of Ethereum’s native token, Ether (ETH), has been steadily climbing over the past few weeks, surging 28% since November 18. Despite a brief drop to $3,615 on December 5, the altcoin has quickly rebounded and is now trading above $4,000.
According to analysts, Ethereum is on the verge of a major breakout with a potential price target of $15,000 by 2025. The cryptocurrency is currently consolidating within a three-year ascending triangle pattern, signaling a looming “paradigm shift” in its price trajectory.
In order to reach the $15,000 mark, Ether must maintain support above $3,800 and retest its all-time high of $4,878. With the relative strength index (RSI) pointing towards a bullish trend and increasing institutional interest in spot Ether ETFs, the stage is set for Ethereum to catapult to new all-time highs.
Independent traders have also noted positive signs for Ethereum, with key technical indicators like the “golden cross” signaling a potential rally in the near future. Additionally, Ethereum’s decentralized finance (DeFi) ecosystem is experiencing significant growth, with total value locked on the chain hitting a new yearly high of $77 billion on December 5.
As smart money flows into Ether and bullish sentiment prevails, Ethereum’s path to $15,000 by 2025 seems increasingly likely. Stay tuned for more updates on Ethereum’s journey to new price milestones.