Originally published on: December 06, 2024
In recent weeks, Ethereum’s native token, Ether (ETH), has been steadily climbing, experiencing a 28% increase since November 18. Despite a brief dip to $3,615 on December 5, the altcoin quickly rebounded and is now trading above $4,000.
Maintaining a yearly high of $4,098, Ethereum continues to form a pattern of higher highs and higher lows on the 4-hour chart. The relative strength index (RSI) appears healthy, staying below the overbought region.
As Ethereum approaches the $4,000 mark, an anonymous crypto analyst known as Venture Founder has set ambitious targets for 2025. The analyst predicts that Ethereum is on the cusp of a major breakout, with the potential for a price surge to $16,000, pushing its market cap over $1 trillion for the first time.
However, the analyst emphasizes the importance of Ether closing its weekly candle above $3,800 to increase the likelihood of retesting its all-time high of $4,878.
Independent trader Honey also sees bullish signs for Ethereum, noting a “golden cross” on the 1-day chart that historically precedes significant price surges. This trader foresees a “giga pump” that could propel Ether to new all-time highs.
Institutional interest in Ethereum is also on the rise, with spot Ether ETFs gaining traction among investors. Recent data shows significant inflows into Ethereum financial instruments, with BlackRock’s iShares Ethereum Trust leading the way with over $500 million in inflows this week, totaling $2.6 billion.
In addition to increasing institutional interest and positive price action, Ethereum’s decentralized finance (DeFi) metrics are also improving. Data from DefiLlama reveals that total value locked on Ethereum’s chain reached a new yearly high of $77 billion on December 5.
With a combination of bullish technical indicators, institutional support, and growing DeFi activity, Ethereum appears poised for significant growth in the coming years. As the crypto landscape evolves, ETH holders and investors are keeping a close eye on the path to a potential $15,000 price target by 2025.