Originally published on: December 13, 2024
Ether is gearing up for a potential rally above $5,000, identified as a “minimum target” by crypto analysts projecting a cycle top exceeding $15,000 for the second-largest cryptocurrency globally.
In the broader crypto spectrum, Avalanche successfully concluded a $250 million private locked-token sale involving over 40 companies in preparation for Avalanche9000, deemed the most crucial upgrade in the layer-1 blockchain network’s history.
Analyzing technical chart patterns, forecasters foresee Ether’s price surging beyond $5,000, with the bullish momentum possibly continuing until the end of 2025.
The escalation of Ether’s ETHprice above the $5,000 milestone could be fueled by its correlation with BitcoinBTC, which recently surpassed $100,000 for the first time on Dec. 5.
According to well-known crypto analyst Titan of Crypto, Ether’s rally to a record high of $5,000 might just be the beginning, as outlined in fractal patterns shared on Dec. 6.
Using fractal patterns in crypto trading, technical traders can determine key support and resistance levels and potential trend reversals based on historical data.
Anticipating an “impulse breakout” to $15,000 by the end of 2025, analysts remain optimistic about Ether’s price trajectory.
On a separate note, the layer-1 blockchain Avalanche disclosed the completion of a $250 million private locked-token sale led by Galaxy Digital, Dragonfly, and ParaFi Capital on Dec. 12.
Over 40 companies participated in the token sale, including industry giants like SkyBridge, SCB Limited, Hivemind, and more, gearing up for the imminent Avalanche9000 network upgrade.
In another development, Telegram founder Pavel Durov appeared in a Paris court for the first time in connection with a legal case involving allegations of the messenger app enabling criminal activities.
Durov, accompanied by his legal team, faced questioning relating to Telegram’s potential use for illicit transactions, demonstrating his trust in the French justice system without elaborating further.
Switching gears, the Abu Dhabi Global Market’s Financial Services Regulatory Authority officially recognized Tether’s USDt stablecoin as an accepted virtual asset within its ecosystem, signaling a significant milestone for regulated financial services providers.
Moreover, the Eigen Foundation allocated 1% of the EIGEN token supply to the Protocol Guild, a core developer group responsible for maintaining the Ethereum layer-1 blockchain, to support ongoing development efforts.
Wrapping up the week, the cryptocurrency market witnessed mixed performances, with WorldcoinWLD and EOS experiencing notable downturns, while DeFi continues to evolve with innovative developments shaping the future of finance.
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