Ethereum Reaches $4,100 For The First Time In Over Three Years, Aiming For $5,000 Next
For the first time in over three years, Ethereum (ETH) has reached a major price milestone of $4,100. This level has proven to be a key resistance for investors, especially during the bullish momentum in the first quarter of the year, with leading altcoins struggling to break above it.
Ready for a bounce if the $4,000 to $4,100 resistance is breached?
Renewed bullish sentiment among cryptocurrency investors has prompted analysts to predict that Ethereum could hit a new all-time high, surpassing previous levels Record Price is $4,878 and is set for November 2021.
For example, cryptocurrency analyst Justin Bennett noted on social media platform
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However, analysts emphasize If the price of ETH can successfully break out of the key $4,000 to $4,100 range in the near term, it could pave the way for a rebound back to the all-time high territory and potentially reach mid-$5,000 levels, completing the current bullish altcoin channel .
Bennet also said that now is the perfect time for ETH prices to hit all-time highs, as he believes altcoins may see “some of the Bitcoin (BTC) profits” flow into the Ethereum market soon.
Ethereum price will hit $15,937 by May 2025?
Market expert VentureFounder shares more that further reinforces this bullish outlook optimistic forecastETH is expected to continue its bullish momentum over the next seven months and is expected to reach an all-time high of $15,937 by May 2025.
VentureFounder ties this prediction to historical patterns, noting that the first quarter following a Bitcoin halving event typically triggers a surge in Bitcoin prices to new record highs. He further stated that Ethereum typically enjoys a year of strong performance following such halving events, with the most recent halving occurring in April this year.
Bitcoin and Ethereum this year already bear significant similarities to the past. Before Bitcoin halving, cryptocurrency has experienced significant gains, in part due to the U.S. Securities and Exchange Commission’s (SEC) approval of a spot Bitcoin exchange-traded fund (ETF).
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At the time, Bitcoin prices hit an all-time high of just over $70,000 in March and have since risen more than 50% to a new record of $107,000 despite challenges in the second and third quarters. price action.
Ethereum has also experienced significant growth, posting its strongest first quarter performance in more than three years, rising from $2,260 in February to nearly 100% in just 30 days. However, until recently, it remained below the $4,100 threshold, in line with Bitcoin’s upward trajectory.
Overall, VentureFounder’s analysis and the price action of Ethereum and Bitcoin this year provide a solid basis for our belief that Ethereum could rise significantly in the coming months if expert predictions and previous patterns hold true.
As of this writing, ETH is trying to consolidate around $4,014. This level will be critical in determining whether further upward momentum will emerge in the coming days or whether additional tests will be carried out. price support Coming soon.
Featured images from DALL-E, charts from TradingView.com
