{"id":1710,"date":"2024-12-10T05:11:08","date_gmt":"2024-12-10T05:11:08","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/ethereum-finally-set-for-a-new-all-time-high-heres-what-analysts-say\/"},"modified":"2024-12-10T05:11:08","modified_gmt":"2024-12-10T05:11:08","slug":"ethereum-finally-set-for-a-new-all-time-high-heres-what-analysts-say","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/ethereum-finally-set-for-a-new-all-time-high-heres-what-analysts-say\/","title":{"rendered":"Ethereum Finally Set For A New All-Time High? Here\u2019s What Analysts Say"},"content":{"rendered":"

Ethereum (ETH) continues to hover around the critical $4,000 resistance level, a price point many believe could determine the cryptocurrency’s next major move. However, a strong weekly close has sparked optimism among analysts, suggesting that ETH could be on track to reach a new all-time high (ATH) soon.<\/p>\n

Ethereum Heading To New ATH? Experts Weigh In<\/h2>\n

While cryptocurrencies like Bitcoin (BTC), Solana (SOL), and XRP have experienced explosive growth this year, ETH\u2019s price momentum has been relatively subdued. According to CoinGecko, Ethereum has recorded gains of 62% over the past year, falling short compared to other trending digital assets.<\/p>\n

However, ETH\u2019s performance relative to other cryptocurrencies has not deterred ETH bulls from aiming for new ATHs for the cryptocurrency. For instance, seasoned crypto analyst Pentoshi recently took to X to explain the significance of ETH\u2019s \u201cstructural changes\u201d and the consistently large inflows attracted by spot ETH exchange-traded funds (ETFs).\u00a0<\/p>\n

Pentoshi noted that Ethereum has not only recorded a higher high on the weekly chart, but also had its highest weekly close of the year. The analyst added that, given its current price of slightly below $4,000, there is not much resistance to ATH, which \u201cshould act as a magnet\u201d for further gains.<\/p>\n

\"pentoshi\"<\/p>\n

Another crypto analyst, @CryptoPoseidonn highlighted<\/a> that ETH is set to break out of its \u201c4-year, 1,460-day range to the upside.\u201d In a chart, the analyst marked out the different Fibonacci extension levels to identify potential price targets for ETH.<\/p>\n

According to the chart, ETH can rise to $6,000 at the 1.272 extension level, $7,400 at the 1.618 extension level, and $11,400 at the 2.618 extension level. ETH can rise \u201cmuch higher, far beyond your worst nightmares,\u201d the analyst added.<\/p>\n

\"poseidonn\"<\/p>\n

In a shorter time frame, Satoshi Flipper, another well-known analyst,\u00a0emphasized<\/a> that ETH attempts to break through an ascending channel in\u00a0the 4-hour chart. He suggested that the current price, sitting on diagonal channel support, might present a \u201cnice entry\u201d point, predicting that the next impulsive move could take ETH to $4,400.<\/p>\n

\"flipper\"<\/p>\n

ETH Bulls Cautiously Optimistic<\/h2>\n

Although there is high anticipation for a new ETH ATH, some experts opine that there may still be a few hurdles before the digital asset records a new ATH price. For instance, ETH crossing the $4,000 level may lead to increased risks of profit-taking, potentially resulting in a short-term correction.<\/p>\n

However, Ethereum\u2019s fundamentals remain robust, adding to its bullish outlook. For instance, ETH active addresses and large value transactions have shown an uptick, reflecting increased on-chain activity during the recent rally.<\/p>\n

Additionally, some analysts believe ETH could follow a trajectory similar to Bitcoin\u2019s 2021 bull run, with the potential to reach $10,000. ETH trades at $3,847 at press time, down 3.9% in the past 24 hours.<\/p>\n

\"ethereum\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Ethereum (ETH) continues to hover around the critical $4,000 resistance level, a price point many believe could determine the cryptocurrency’s next major move. However, a strong weekly close has sparked optimism among analysts, suggesting that ETH could be on track to reach a new all-time high (ATH) soon. Ethereum Heading To New ATH? Experts Weigh…<\/p>\n","protected":false},"author":1,"featured_media":1711,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[252],"tags":[1179,220,605,65,254,138,343,102,232,105,1180,121,150],"class_list":["post-1710","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news","tag-age-of-cryptocurrency","tag-altcoin","tag-altseason","tag-bitcoin","tag-cryptocurrency","tag-eth","tag-ether","tag-ethereum","tag-ethereum-news","tag-ethusdt","tag-fibonacci-extensions","tag-solana","tag-xrp"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1710","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=1710"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1710\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/1711"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=1710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=1710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=1710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}