Over the past three weeks, Ethereum’s native token, Ether (ETH), has been steadily rising in value, currently up 28% since November 18th. Despite a brief flash spike down to $3,615 on December 5th, ETH has bounced back and is now trading above $4,000.
Trend Continues with Higher Highs and Lows
The Ethereum 4-hour chart shows that the altcoin continues to form a higher high and higher low trend. This indicates a strong upward momentum, as each subsequent peak surpasses the previous one. The relative strength index (RSI) is also looking healthy, currently below the overbought region.
Paradigm Shift Ahead?
With Ethereum on the cusp of breaking $4,000, venture founder and anonymous crypto analyst has set even higher targets for 2025. According to their analysis, Ethereum is consolidating inside a three-year ascending triangle pattern, poised for a significant breakout.
The trader explained: "Ethereum likely to repeat this impulsive breakout it did after between 2016-2017 to shoot to new ATH. Price Target: $15,937 by May 2025."
If ETH were to reach the predicted price target of $16,000, it would catapult its total market capitalization above $1 trillion for the first time in history.
Golden Cross Breakout
Independent crypto trader Honey has noted that Ether’s "golden cross" on the 1-day chart is breaking out according to previous bull markets. This development indicates that ETH is at the beginning stages of a massive price surge, potentially taking it to new all-time highs.
Ethereum Spot ETFs Gain Traction
After being overshadowed by spot BTC ETF’s performance in 2024, spot ETH ETFs are gaining institutions’ interest towards the end of the year. Cointelegraph reported that the altcoins’ financial instrument witnessed its largest daily inflows since launch, with $428.5 million.
Total Inflows Reach Over $1.3 Billion
Spot Ether ETFs have seen over $1.3 billion in inflows since November 18th, with BlackRock’s iShares Ethereum Trust leading the charge with over $500 million in inflows this week. Its total inflows now stand at $2.6 billion.
DeFi Metrics Improve
Data from DefiLlama highlighted that total value locked (TVL) on Ethereum’s chain reached a new yearly high of $77 billion on December 5th. This indicates that users are increasing their involvement in decentralized finance, further bolstering the case for ETH’s continued growth.
Conclusion
Ethereum’s steady rise continues, with analysts predicting even higher price targets for 2025. As the altcoin approaches a potential paradigm shift, investors and traders would do well to keep a close eye on its progress. With spot ETFs gaining traction and DeFi metrics improving, the stage seems set for ETH to reach new heights.
Disclaimer
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
