Crypto Price Today: Bitcoin Hits ATH $100K, Ethereum to $7K?
Ethereum Price Prediction: Is $5,000 Just the Start?
Hey There, Crypto Folks!
Ethereum shines after Bitcoin's $100K milestone, fueled by bullish technicals and growing institutional support. ETH price is poised for new highs, capturing the crypto market's spotlight with promising momentum.
Ethereum Sustains Momentum Toward $5,000
As Bitcoin hits its all-time high (ATH), Ethereum is taking the lead. ETH/USD has gained significant traction, with analysts eyeing the $5,000 mark as its next big milestone. Popular trader Jelle highlighted a critical resistance-to-support flip, which could propel the price higher.
Other experts echo this sentiment. Venturefounder, a well-known trader, emphasized a giant cup-and-handle pattern forming since late 2021, predicting an ambitious price target of $7,346.
Also read: Matic Price Prediction 2024, 2025
Why is Ethereum (ETH) price up today?
Ethereum’s futures market has hit a new peak, with open interest (OI) reaching $25 billion. In the last 24 hours alone, OI rose by $1.3 billion, indicating a surge in leveraged positions. Institutional investors are also playing a significant role, with Ethereum ETFs seeing net inflows of $132 million on December 3.
Leading the charge, Fidelity’s FETH recorded $73.7 million in inflows, followed by BlackRock’s $65.3 million. This rising demand for ETH-backed ETFs signals confidence in Ethereum’s long-term potential.
Will Ether top $4,000?
Technically, Ethereum is forming patterns that have historically preceded sharp price increases. Traders note that ETH’s consolidation near $3,650 acts as a foundation for a breakout toward $4,000 and beyond. Michaël van de Poppe identified a bullish divergence in the ETH/BTC relative strength index (RSI), hinting at stronger momentum for the altcoin.
The ETH/BTC pair has also shown resilience, reaching its highest level since November 2021, trading at 0.039. Analysts believe this strength reflects the broader bullish sentiment across the Ethereum ecosystem.
Ethereum Price Prediction 2024 and Beyond
With growing institutional interest and technical strength, Ethereum price predictions for 2024 and 2025 are highly optimistic. Analysts foresee ETH reclaiming its previous ATH of $4,900 and potentially reaching $7,000 or higher in the coming years.
Yonsei Dent, a crypto trader, highlighted that Ether ETF trading volumes rose by 300% in November, surpassing activity in Q3 and October combined. If this trend continues, Ethereum could follow Bitcoin’s recent trajectory to new ATHs.
Ethereum’s bullish momentum, fueled by institutional backing and robust technical indicators, makes it a strong contender for further growth. As the crypto market evolves, ETH remains a key player to watch. With price targets of $5,000 and beyond, Ethereum could soon redefine its position in the cryptocurrency market.
Stay tuned for more updates on Ethereum price, ETH news, and the latest Ethereum price predictions for 2024 and 2025!