Here's a detailed analysis of Ethereum:
*Current Price and Market Performance*
- Ethereum's current price is around $2,295.10, with a 4.37% decrease in the last 24 hours.
- The 24-hour trading volume is approximately $15,183,902,049, while the market capitalization stands at $277,065,258,067.
- Ethereum's circulating supply is 120,720,158 ETH.¹
*Technical Analysis*
- *Support and Resistance Levels*: Ethereum is currently trading between key support ($2,400) and resistance zones ($2,700-$2,800). A breakout above $2,800 could lead to a rally towards $3,000 or $4,000.
- *Moving Averages*: The 50-day EMA is nearing a golden cross with the 200-day EMA, indicating a potential change to a bullish trend.
- *Relative Strength Index (RSI)*: The RSI is around 51-52, reflecting indecision and a lack of strong directional drive.
*Potential Scenarios*
- *Bullish Continuation*: If Ethereum breaks above $2,700-$2,800 and flips this area into support, it could initiate a new leg higher towards $3,000 and above.
- *Bearish Pullback*: Failure to break resistance may result in a retest of the lower boundary of the ascending channel near $2,400 or even $2,150.
*Long-term Predictions*
- According to various forecasts, Ethereum's price could reach $5,825, $10,000, or even $15,000 in 2025, driven by technical formations like the inverse head-and-shoulders setup.
- Prominent investors predict a potential target of $10,909 for ETH in 2025.
