While 2024 has not been a particularly stellar year for Ethereum (ETH) in terms of price action, 2025 may finally bring some much-needed optimism for Ethereum bulls. Many analysts believe that ETH is on the verge of a massive breakout that could see the cryptocurrency reach all-time highs (ATH).
Is it finally time for Ethereum?
Ethereum, the second-largest cryptocurrency by market cap, may finally overtake its peers this year. According to cryptocurrency analyst Jelle, ETH has been trading within a long-term bullish flag for three years and has recently exploited all available bearish liquidity.
analyst Confirm That ETH’s take-off time is near, predicting an “old-fashioned ETH rally.” Gilley hinted at ETH entering five-digit territory, indicating a minimum price target of $10,000.
Likewise, cryptocurrency and forex trader Merlijn The Trader shared an optimistic forecast. The trader highlighted the performance of ETH against Bitcoin (BTC), explaining that it follows an ascending triangle pattern. A decisive break above the 0.15 BTC level could finally trigger the long-awaited swing season. Merlin noted:
Ethereum Poised to rise to $8,000. The setup is clear, and the next Ethereum hack is inevitable.
Another cryptocurrency enthusiast, BitcoinHabebe, subscriber Their view on ETH price action. According to them, ETH is trading in a bearish expanding wedge on the weekly time frame. A clean break above the upper trend line of this pattern could push ETH to $5,000.
Meanwhile, veteran cryptocurrency market commentator, Ali Martinez, presented a thesis on ETH’s potential price path for the first quarter of 2025. Martinez noted a rising An inverse head and shoulders pattern is forming on the daily chart.
According to Martinez, the ETH price consolidated for approximately 37 days around the $2,800 price level in April 2024 before rising. The analyst expects a similar period of consolidation as ETH forms the right shoulder of this pattern, with a breakout likely by mid-February.
Whales losing trust in ETH?
While this price forecast presents a bullish outlook for ETH, some analysts remain unchanged to caution About the ability of cryptocurrency to achieve extraordinary gains in the short term. Data on the chain suggests Some crypto whales are reducing their holdings of ETH due to its disappointing price performance compared to other cryptocurrencies such as XRP, SUI, and Solana (SOL).
However, data from cryptocurrency exchange-traded funds (ETFs) Pointing Institutional capital may finally be rotated from BTC to ETH. Sustained capital inflows into ETH could help pave the way for an altseason. At press time, Ethereum is trading at $3,433, up 2.9% over the past 24 hours.
Featured image from Unsplash.com, charts from X and TradingView.com
