Ethereum Hits $4,100 Milestone for First Time in Over Three Years
Ethereum (ETH) has reached a price milestone of $4,100 for the first time in over three years, marking a significant resistance level. This threshold proved challenging for investors during recent bullish trends.
Potential Rally Above Resistance
Analysts predict that Ethereum could surpass its previous all-time high of $4,878, set in November 2021, if it breaks through the $4,000 to $4,100 range. Crypto analyst Justin Bennett highlighted the importance of overcoming these technical barriers, suggesting that if ETH manages this, it could rally toward mid-$5,000 levels.
Bennett also noted that profits from Bitcoin (BTC) may soon flow into Ethereum, creating an opportunity for new highs.
Forecast for $15,937 by May 2025
Market expert VentureFounder projects that Ethereum could reach a new all-time high of $15,937 by May 2025. This prediction is based on historical trends following Bitcoin’s Halving events, which typically lead to significant price surges for Ethereum.
This year has seen parallels with past performance, as Ethereum experienced a substantial rally prior to Bitcoin's Halving and benefited from the approval of spot Bitcoin exchange-traded funds (ETFs) by the SEC.
During this period, Bitcoin reached a new all-time high above $70,000 in March and rose to a record of $107,000. Ethereum's strong first quarter saw it rise nearly 100% from $2,260 in February, although it remained below the $4,100 mark until recently.
VentureFounder’s analysis supports the notion that ETH may experience significant upward movement in the coming months if current trends continue.
Currently, ETH is consolidating around $4,014, a crucial level for determining potential upward momentum or further tests of price support.
Featured image from DALL-E, chart from TradingView.com