As a researcher observing the cryptocurrency market, I’ve noticed that the current value of Ethereum (ETH) stands at approximately $3,327 USD with a 24-hour volatility of 1.1%. This suggests a potential end to the recent wedge correction in the near term. After Ethereum rebounded strongly following its drop below the $3k mark, bullish sentiment has surged significantly. Furthermore, Ethereum’s fear and greed index climbed to 64% on Thursday, indicating an increase in market greed.
Looking at it technically, the price of Ethereum appears to be gathering strength before the expected altcoin boom (altseason). Interestingly, Bitcoin‘s influence has been shaping into a larger-scale reversal trend, as there’s a noticeable shift in the crypto market towards alternative coins (altcoins).
The ETH/BTC pair might indicate an impending trend change, as it has been confined within a downward channel for the past two years. If Bitcoin’s price surges towards a fresh record high soon, Ethereum’s price could rise in tandem, potentially igniting the highly anticipated “altseason.
Should Ether’s closing prices persistently exceed the significant resistance point approximately $4,090, its previous record high (all-time high or ATH) becomes the next substantial goal. Once this milestone is reached, the exhilarating and exuberant phase of the broader altcoin rally will commence.
If more adjustments occur in the midterm, the Ether price is likely to find strong resistance or support at levels above $2,160 – a point it has consistently held over the past nine months.
Top Reasons to Believe in Ethereum During the 2025 Bull Run
Although Solana, Toncoin, Tron, Cardano, and Binance Smart Chain (BSC) are making strides as leading layer one chains, the Ethereum network continues to hold its position as the dominant force in Web3. At present, Ethereum boasts a total value locked of approximately $66 billion and a stablecoins market cap of around $114 billion.
In the past day, approximately $2.71 million was generated as net income and around 403,000 active addresses were registered on the Ethereum network, due to the numerous Decentralized Finance (DeFi) protocols it hosts. This has drawn in a larger number of institutional investors who are looking to diversify their cryptocurrency portfolios as a means to protect against global inflation.
To illustrate, accumulated net investments into U.S.-based Ether ETFs amount to approximately $2.47 billion, while their total asset value stands at roughly $12.25 billion.
On Wednesday, the issuers of U.S. spot Ether ETFs recorded an overall cash injection of approximately $59 million. This was primarily driven by Fidelity’s FETH, which saw a net investment of around $29.3 million, and BlackRock’s ETHA, with a net cash influx of roughly $19.85 million.
In a variety of locations, the Ethereum network has gained clearer regulation compared to other alternative cryptocurrencies, with its main developers steadfastly constructing and innovating.
In the U.S., interest in Ether remains high as Donald Trump’s World Liberty Financial (WLF) holds a substantial portion of its resources in this cryptocurrency.
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2025-01-16 17:30