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For the first time in over three years, Ethereum (ETH) reached the important milestone of $4,100. This level has proven to be a key resistance point for investors, especially as the leading altcoin has struggled to breach it during the bullish momentum experienced in the first quarter of this year.
Ready for a rally if it breaks above the $4,000-$4,100 resistance?
Renewed bullish sentiment among crypto investors has led analysts to predict potential new highs for Ethereum, surpassing its previous save of $4,878, set in November 2021.
For example, crypto analyst Justin Bennett noted on social media platform market attention in December.
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However, the analyst underlines that if ETH price manages to break the critical $4,000 to $4,100 range in the near term, it could pave the way for a return to its all-time high zone, with the potential to reaching average levels of $5,000, completing the current uptrend. channel for altcoin.
Bennet also suggested that now is an opportune time for the ETH price to aim for a new all-time high, as he believes the altcoin could soon see “some of those Bitcoin (BTC) profits” flowing into the Ethereum market .
Ethereum price will reach $15,937 by May 2025?
In addition to this bullish outlook, market expert VentureFounder shared even more optimistic predictionsanticipating prolonged bullish momentum for ETH over the next seven months and predicting that it will reach a new all-time high of $15,937 by May 2025.
VentureFounder tied these predictions to historical patterns, noting that the first quarter following Bitcoin halving events typically initiates a push to new record highs. He further indicated that Ethereum often enjoys a year of good performance after such halving events, the last of which occurred in April this year.
This year has already seen significant similarities to the past for Bitcoin and Ethereum. Before the Bitcoin halving, the cryptocurrency has seen a substantial rebound, fueled in part by the approval of Bitcoin spot exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC).
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At the time, Bitcoin’s price hit a new all-time high just above $70,000 in March, and it has since risen more than 50% to a new all-time high of $107,000, despite second and Difficult third trimester. price evolution.
Ethereum has also seen significant growth, posting its strongest first quarter in over three years, rising from $2,260 in February to nearly 100% in just 30 days. However, it remained below the $4,100 threshold until recently, consistent with Bitcoin’s rising trajectory.
Overall, VentureFounder’s analysis, along with Ethereum and Bitcoin’s price movements this year, give a solid basis to believe that ETH could be poised for significant increases in the months to come. come if expert projections and past trends hold true.
At the time of writing, ETH is attempting to consolidate at around $4,014. This level will be crucial in determining whether further bullish momentum will occur in the coming days or whether further testing of price support are on the horizon.
Featured image of DALL-E, chart by TradingView.com
