Analyst: Ethereum’s current trend is similar to that of 2016-2017, and may usher in an explosive rise
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2024-12-07 23:03 3,132
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Golden Finance reports that market analyst VentureFounder predicts that Ethereum will usher in an “impulsive breakthrough” in the next few months.
The analyst noted that Ethereum’s current trend is similar to its 2016-2017 cycle, predicting a repeat of the explosive rise that propelled ETH to new highs at the time.
VentureFounder’s ETH price target is $15,937 by May 2025, which would push Ethereum’s market cap past $1 trillion for the first time.
To achieve this bullish scenario, analysts highlighted the importance of Ethereum maintaining $3,800 as weekly support. Success in holding this level will increase the likelihood of a retest of its all-time high of $4,878 in the short term, followed by a possible continuation of the rise.