While 2024 was not particularly stellar for Ethereum (ETH) by way of price motion, 2025 might finally bring some much-needed optimism for ETH bulls. Several analysts imagine ETH is on the verge of a large breakout that would see the cryptocurrency establish latest all-time highs (ATH).
Is It Finally Time For Ethereum?
Ethereum, the second-largest cryptocurrency by market capitalization, may finally outshine its peers this yr. In line with crypto analyst Jelle, ETH has been trading inside a long-term bullish pennant for 3 years and recently tapped into all available downside liquidity.
The analyst emphasized that the time for ETH to interrupt out is near, anticipating an “old-fashioned ETH rally.” Jelle hinted at ETH entering five-figure territory, suggesting a minimum price goal of $10,000.
Similarly, crypto and forex trader Merlijn The Trader shared an optimistic outlook. The trader highlighted ETH’s performance against Bitcoin (BTC), showing it following an ascending triangle pattern. A decisive break above the 0.15 BTC level could finally trigger the much-anticipated altseason. Merlijn noted:
ETH is primed to skyrocket to $8,000. The setup is evident, and Ethereum’s next breakout is inevitable.
One other crypto enthusiast, BitcoinHabebe, shared their perspective on ETH’s price motion. In line with them, ETH is trading in a descending broadening wedge on the weekly timeframe. A clean breakout above the upper trendline of this pattern could push ETH to $5,000.
Meanwhile, seasoned crypto market commentator Ali Martinez presented a thesis on ETH’s potential price trajectory for Q1 2025. Martinez pointed to a bullish inverse head-and-shoulders pattern forming on the day by day chart.
In line with Martinez, ETH consolidated for roughly 37 days across the $2,800 price level in April 2024 before moving higher. The analyst expects an identical consolidation period as ETH forms the appropriate shoulder of this pattern, with a breakout more likely to occur by mid-February.
Whales Losing Faith In ETH?
While these price projections present a bullish outlook for ETH, some analysts remain cautious in regards to the cryptocurrency’s ability to deliver extraordinary gains within the short term. On-chain data suggests that certain crypto whales are reducing their ETH holdings as a consequence of its underwhelming price performance in comparison with other cryptocurrencies like XRP, SUI, and Solana (SOL).
Nonetheless, data from crypto exchange-traded funds (ETFs) indicates that institutional capital may finally be rotating from BTC into ETH. Sustained capital inflows into ETH could help pave the best way for altseason. At press time, ETH trades at $3,433, up 2.9% previously 24 hours.
Featured Image from Unsplash.com, Charts from X and TradingView.com