Ethereum Reaches $4,100 For The First Time In Over Three Years, Aiming For $5,000 Next

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As a seasoned crypto investor with a knack for spotting trends and patterns, I must admit that the recent surge of Ethereum (ETH) to $4,100 has piqued my interest. I’ve been through the rollercoaster ride of 2017-2018, where altcoins like ETH were the stars of the show, and I can’t help but feel a sense of deja vu.

For the first time in more than three years, Ethereum (ETH) surpassed the notable price threshold of $4,100. Historically, this level has served as a challenge for investors, particularly when ETH struggled to break through it during the robust market uptrend observed earlier this year.

Poised For Rally If It Breaks $4,000-$4,100 Resistance?

Due to the revived optimism among cryptocurrency investors, experts predict that Ethereum could reach unprecedented peaks, possibly exceeding its old highest value of $4,878, which it achieved in November 2021.

For example, crypto expert Justin Bennett pointed out on social networking site X (previously known as Twitter), stating that Ethereum (ETH) encountered technical hurdles when trying to exceed $4,000, and he conceded that Bitcoin has been the main topic of market interest during December.

If ETH’s price manages to move through the important $4,000 to $4,100 region in the near future, it might trigger a surge toward its previous peak levels, potentially reaching around $5,000 in the mid-range, thus completing the ongoing bullish trend for this cryptocurrency.

Additionally, Bennett proposes that the ideal time has arrived for the ETH price to reach a fresh record peak. This is based on his conviction that funds earned from Bitcoin (BTC) may soon begin to move towards the Ethereum market.

Ethereum Price To Reach $15,937 By May 2025? 

According to market expert VentureFounder, we can expect continued bullish trends for ETH in the coming seven months. In fact, he predicts that ETH may hit a record high of $15,937 by May 2025, further strengthening this positive outlook.

VentureFounder connected the prediction to past trends, pointing out that the period following Bitcoin’s Halving usually sees a spike towards unprecedented peaks. Additionally, he hinted at Ethereum often experiencing robust growth after such Halving events, with the most recent one happening in April of this year.

2021 has shown striking resemblances to earlier periods for both Bitcoin and Ethereum. Before Bitcoin’s halving, it experienced a major surge, partly driven by the green light given by the US Securities and Exchange Commission (SEC) for spot Bitcoin exchange-traded funds (ETFs).

Currently, the cost of a single Bitcoin soared to an unprecedented peak slightly over $70,000 in March, and it has since escalated by more than 50%, establishing a fresh record at approximately $107,000. This impressive growth came about even amidst difficult market fluctuations during the second and third quarters.

As an analyst, I observed a remarkable surge in Ethereum’s performance during the first quarter, marking its most robust growth in over three years. Starting from $2,260 in February, it climbed up to almost double its initial value within a month, representing a 100% increase. However, it held steady below the $4,100 benchmark until recently, mirroring Bitcoin’s steadily ascending trend.

In essence, VentureFounder’s assessment, combined with the fluctuations in the prices of Ethereum and Bitcoin throughout the year, provides a strong basis for anticipating potential substantial increases in ETH within the upcoming months, should the predictions of experts and past trends prove accurate.

As I pen this down, Ethereum (ETH) seems to be trying to stabilize near the $4,014 mark. This figure holds significant importance as it could signal the commencement of further growth over the next few days, or potentially indicate that we might encounter more tests of price support in the near future.

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2024-12-17 14:10