Originally published on: November 23, 2024
Ether’s price is on the brink of a potential correction before embarking on a sustainable rally to reach new record highs in the near future.
In the last month alone, Ether (ETH) has surged by more than 33%, currently trading above $3,368 as of 10:23 am UTC on Nov. 23, according to Cointelegraph data.
Market analysts anticipate a correction in Ether’s price once Bitcoin (BTC) hits the anticipated milestone of $100,000, likely to occur by the end of November. This could temporarily dampen Ether’s upward trajectory, as explained by Gracy Chen, CEO of Bitget.
However, despite short-term fluctuations, experts believe Ether is set for a significant long-term rally that could see its price exceeding $20,000 by 2025.
Renowned crypto analyst Wolf points towards emerging technical patterns that suggest Ether is consolidating within a triangle formation, potentially setting the stage for a massive breakout towards $20,000.
The bullish sentiment is further supported by Ethereum’s dominance as the leading smart contract blockchain, signaling increased utility and adoption of Ether, positioning it to surpass its previous all-time high.
While investors may be currently directing their focus towards Bitcoin, Chen predicts a resurgence in Ether’s price as Bitcoin’s rally begins to stabilize. With Ether’s historical positive quarterly returns against Bitcoin in post-halving years, the outlook for Ether’s price in early 2025 appears optimistic.
In conclusion, the future looks promising for Ether as it navigates through short-term corrections towards its upward trajectory, setting the stage for a potential surge above $20,000 by 2025. Subscribe to our newsletter for more insights and updates on the evolving DeFi landscape.