Ethereum price finally took out the $4,000 resistance level, and one analyst says ETH could hit $15,000 by May 2025.
Ethereum’s native token, Ether has maintained a slow and steady rise over the past three weeks, rising 28% since Nov. 18. Despite a flash spike down to $3,615 on Dec. 5, the altcoin has sprung back and now trades above $4,000.
Its yearly high value remains at $4,098, and the trend continues to form a higher high and higher low trend in the 4-hour chart. The relative strength index, or RSI, also looks healthy, where the indicator is currently below the overbought region.
Ethereum hints “paradigm shift” above $4,000
With Ethereum on the brink of breaking $4,000, venture founder, an anonymous crypto analyst set higher targets for 2025. The analyst explained that Ethereum is consolidating inside a three-year ascending triangle pattern, approaching a new “paradigm shift.”
The trader said,
“Ethereum likely to repeat this impulsive breakout it did after between 2016-2017 to shoot to new ATH. Price Target: $15,937 by May 2025”.
A $16,000 ETH would take the altcoin’s total market cap above $1 trillion for the first time in history.
However, the analyst noted that Ether must close its weekly candle with $3,800 at support, increasing the probability of ETH retesting its all-time high at $4,878, or, its immediate price target.
Similarly, Honey, an independent crypto trader, indicated that Ether’s “golden cross” on the 1-day chart is breaking out according to previous bull markets. The trader said that ETH is at the beginning stages of a “giga pump” that will take the altcoin to new all-time highs.
Ethereum spot ETFs sustain positive momentum
After being overshadowed by spot BTC ETF’s performance in 2024, spot ETH ETFs are beginning to gain institutions’ interest toward the end of the year. the altcoins’ financial instrument witnessed its largest daily inflows since its launch, with $428.5 million.
Spot Ether ETFs have witnessed more than $1.3 billion in inflows since Nov. 18, with BlackRock’s iShares Ethereum Trust leading the charge with over $500 million in inflows this week, taking its total inflows to $2.6 billion.
Alongside smart money interest and positive price action, Ethereum’s DeFi metrics are also improving. Data from DefiLlama highlighted that total value locked on Ethereum’s chain reached a new yearly high of $77 billion on Dec. 5.
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