Over the past seven days, Ethereum (ETH) has experienced a 9.3% decline, moving from $3,630 on January 3 to its current price of $3,235. Despite this, Ethereum is making efforts to hold its ground at the psychologically important support level of $3,000. Nevertheless, some crypto experts remain optimistic that Ethereum’s future price trend remains bullish in the long term.
Can Ethereum Recover? Analysts Weigh In
During the ongoing crypto bull market, Bitcoin (BTC) has been setting numerous record-breaking high prices (peak values). However, Ethereum’s price fluctuations have been relatively subdued compared to Bitcoin. Interestingly, Ethereum reached its all-time high of $4,878 in November 2021, and this peak value has not been surpassed since then.
Despite Ethereum’s less than stellar performance in the ongoing market cycle, cryptocurrency experts remain optimistic about a potential bullish trend reversal. For example, many analysts are keeping a close eye on the developing inverse head-and-shoulders pattern visible in the three-day Ethereum chart.
As a crypto investor, I’ve been keeping a close eye on market trends, and I can’t help but notice an interesting pattern that might indicate a shift in the direction of my investments. The pattern I’m referring to is an inverse head-and-shoulders formation. Typically, a standard head-and-shoulders pattern suggests bearish tendencies, but this one is different. It’s considered bullish, signaling a potential reversal in the asset’s price trend. In simpler terms, it seems like we might be witnessing a change from a downward to an upward trend. Analyst MikyBull recently pointed out this formation on X, and I believe it’s worth paying attention to.
According to Wolf’s analysis, he agrees with MikyBull’s optimistic forecast. Wolf emphasized in his assessment that if the inverted head-and-shoulders pattern is successfully executed, Ethereum (ETH) could potentially reach a peak of $7,200.
Experienced cryptocurrency expert Ali Martinez stated that a drop in Ethereum’s price to around $2,900 would be considered extremely positive, presenting a great chance to buy ETH before it reaches new all-time highs. Martinez also pointed out that if Ethereum maintains its ascending parallel channel, a decline to approximately $2,800 could serve as a strong base for the next price surge.
Currently, Merlijn The Trader, a cryptocurrency and forex trader, has noticed a bullish signal on Ethereum’s 4-hour chart using the Moving Average Convergence Divergence (MACD) strategy. This suggests that the trend might be transitioning from downward to upward momentum. Merlijn predicts that this shift could potentially drive Ethereum’s price up towards $3,700.
Will ETH Hit A New ATH In 2025?
As I pen this analysis, Ethereum (ETH) is currently trading around 33% lower than its All-Time High (ATH). Yet, the growing institutional interest in this digital asset, especially following the US Securities and Exchange Commission’s (SEC) approval of spot ETH exchange-traded funds (ETF), could potentially give Ethereum the necessary push to aim for a new ATH price.
According to Steno Research’s latest findings, Ethereum (ETH) might surpass Bitcoin (BTC) in value by 2025, potentially reaching up to $8,000. Yet, some analysts remain skeptical about such a bullish outlook for ETH in 2025.
In summary, Ethereum needs to break through the significant resistance point around $4,000 initially before it can aim for fresh all-time highs. Currently, Ethereum is trading at $3,235, showing a slight increase of 0.1% over the last 24 hours.
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2025-01-11 09:42