Can Ethereum's price reach $4,000 again? A market analyst says Ethereum (ETH) must stay above a specific support level.

At the start of the week, Ethereum's price saw a significant surge, crossing the $2,800 mark for the first time since February 2025.

However, escalating tensions between Israel and Iran negatively impacted risky assets, leading to a decline in Bitcoin and Ethereum prices.

Ethereum's price $ETH fell below $2,800, dropping to the psychological $2,500 level, a notable deviation from its recent bullish trend.

Historical data suggests that if Ethereum's price remains above the $2,500 support level, it could signal price strength.

Crypto analyst “Rekt Capital” stated on the social media platform X that Ethereum has established $2,500 as a key support zone.

Over the past five weeks, Ethereum's price has demonstrated stability above this level, and if this trend continues, a significant price increase could occur, potentially nearing $4,000.

Rekt Capital noted that in the past, the $2,500 support level helped Ethereum reach the $4,000 mark.

In December 2024, Ethereum's price was close to $4,000, followed by an approximately 60% decline early in the year. If the price reaches this level again, it could mark the start of an anticipated “altcoin season.”

Currently, Ethereum's price is around $2,577, reflecting a roughly 3% decrease in the last 24 hours.

Rekt Capital mentioned in another post that Ethereum's market dominance recently hit a five-year high, reaching 10% for the first time since 2020.

If this positive trend persists, further price increases for Ethereum are expected, and Bitcoin’s market dominance may decrease, potentially boosting the chances of an altcoin season in this cycle.

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