财经少华
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Is $5,000 Ethereum Possible?
Multiple signs indicate that the price of Ethereum may reach $5,000 by February 2025.
The first data point is the historical return rate, which suggests that the returns in the years following the halving are supporting a rebound in altcoins.
The daily chart shows the price of Ethereum hovering within a descending wedge setup. This pattern is formed by connecting four lower highs and three lower lows of ETH since December 16, 2024. This technical formation predicts a price target of $4,000 for Ethereum, following a 17% increase. This target is obtained by adding the distance between the wedge's first swing high and swing low to the breakout point of $3,222.
While the descending wedge is bullish, here are the key resistance levels that could threaten the upward trend: $3,653, $3,840, and $4,007. Once the psychological level of $4,000 is cleared, ETH will attempt to re-challenge the price level of $4,877. After breaking through this level, the price of Ethereum will re-test the psychological level of $5,000.
Follow me for more information and insights about the cryptocurrency world.
Multiple signs indicate that the price of Ethereum may reach $5,000 by February 2025.
The first data point is the historical return rate, which suggests that the returns in the years following the halving are supporting a rebound in altcoins.
The daily chart shows the price of Ethereum hovering within a descending wedge setup. This pattern is formed by connecting four lower highs and three lower lows of ETH since December 16, 2024. This technical formation predicts a price target of $4,000 for Ethereum, following a 17% increase. This target is obtained by adding the distance between the wedge's first swing high and swing low to the breakout point of $3,222.
While the descending wedge is bullish, here are the key resistance levels that could threaten the upward trend: $3,653, $3,840, and $4,007. Once the psychological level of $4,000 is cleared, ETH will attempt to re-challenge the price level of $4,877. After breaking through this level, the price of Ethereum will re-test the psychological level of $5,000.
Follow me for more information and insights about the cryptocurrency world.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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