Ethereum's Path to New All-Time Highs May Be Longer Than Expected

Despite Ether's current price being just a few hundred dollars shy of its all-time high, analysts suggest that reaching new peaks may take weeks or even months. Nansen analyst Jake Kennis notes that the rapid appreciation of Ethereum's price in recent times could lead to a period of consolidation.

Key Factors Influencing Ethereum's Price

- *Institutional and ETF Interest*: Strong inflows into Ether ETFs, with a record $1.01 billion in net inflows on Monday, indicate sustained institutional interest. Kennis believes this trend will support the rally as long as flows and narratives remain strong.

- *Market Predictions*: Crypto traders are divided on when Ether will reach new all-time highs. Some predict it could happen in days, while others expect it to take months. Polymarket bettors put the odds at 65% for ETH hitting $5,000 before the end of August.

- *Retail Trader Sentiment*: Santiment notes that retail traders are skeptical about the rally's sustainability, but this doubt could actually drive prices higher, as prices often move in the opposite direction of retail expectations.

Expert Insights

- *Bitwise's Matt Hougan*: Believes Ethereum's narrative has improved significantly due to institutional adoption and ETF structures, which could support new highs.

- *Standard Chartered's Geoff Kendrick*: Predicts Ethereum could hit $8,000 by 2026 and potentially reach $26,000 in the long term.

Current Market Performance

- *Current Price*: $4,193.29 (down 3.72% in the last 24 hours)

- *Market Capitalization*: $513.98 billion¹

Given the current market trends and expert opinions, Ethereum's path to new all-time highs remains uncertain. While the technical indicators show a bullish trend, with the 50-day moving average rising and the Relative Strength Index (RSI) at 58.81, indicating a neutral position, the journey to new peaks may be more gradual than expected.²