Here is Why Ethereum Could Soon Hit a New All-Time High
Ethereum appears to be gaining momentum after weeks of trailing Bitcoin’s impressive performance.
Starting the week with sluggish movement, the leading altcoin has managed to climb back above $4,000, a level it hasn’t seen since March. However, maintaining this milestone has proven challenging over the weekend.
A prominent analyst, Ali Martinez, shared insights that suggest Ethereum may be on track to revisit its previous all-time high of $4,878 and possibly set a new record. Using data from IntoTheBlock, Martinez highlights that Ethereum faces minimal resistance on its path upward, with the next significant hurdle around the $4,540 range.
Over 608,960 addresses are estimated to have purchased 668,980 ETH in this zone, making it the most notable resistance level ahead.
READ MORE:
Bitcoin and Altcoins Rally Ahead of Crucial US Inflation DataOn the support side, Ethereum seems well-backed between $3,514 and $3,634, where 3.4 million wallets acquired approximately 5.1 million tokens, forming a robust demand zone. Martinez remains optimistic about Ethereum’s bullish outlook, provided it holds above this critical range.
Currently, Ethereum’s price hovers near the $4,000 mark, showing a 2% dip in the last 24 hours but boasting a 10% gain over the past week. While it battles to stabilize above $4,000, the broader market sentiment suggests that Ethereum could be poised for a significant breakout.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
As economic cracks deepen, bitcoin may become the next liquidity "release valve"
The US economy is showing a divided state, with financial markets booming while the real economy is declining. The manufacturing PMI continues to contract, yet the stock market is rising due to concentrated profits in technology and financial companies, resulting in balance sheet inflation. Monetary policy struggles to benefit the real economy, and fiscal policy faces difficulties. The market structure leads to low capital efficiency, widening the gap between rich and poor and increasing social discontent. Cryptocurrency is seen as a relief valve, offering open financial opportunities. The economic cycle oscillates between policy adjustments and market reactions, lacking substantial recovery. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively updated by the Mars AI model.
The wave of cryptocurrency liquidations continues! US Bitcoin ETF sees second highest single-day outflow in history
Due to the reassessment of Federal Reserve rate cut expectations and the fading rebound of the U.S. stock market, the crypto market continues to experience liquidations, with significant ETF capital outflows and options traders increasing bets on volatility. Institutions warn that technical support for bitcoin above $90,000 is weak.
When traditional financial markets fail, will the crypto industry become a "pressure relief valve" for liquidity?
As long as the system continues to recycle debt into asset bubbles, we will not see a true recovery—only a slow stagnation masked by rising nominal figures.
A Quiet End to 2025 Could Prime Crypto for a 2026 Breakout, Analysts Say
Trending news
MoreCrypto prices
More
