Ethereum (ETH) shines again, breaking through the $4,000 mark! 🔥 Recent market trends are exciting, with ETH rising 1.4% on the daily chart and 8.1% on the weekly chart, up 10.1% in the last 14 days. Even more surprisingly, ETH has surged 30% compared to last month! 🚀.
Why is Ethereum rising?
So far this year, ETH has been struggling at the key price level of $4,000. Although it successfully broke through the $4,000 barrier in March and earlier this month, it has failed to maintain that price and has subsequently encountered a correction. As the second-largest cryptocurrency by market capitalization, ETH's price fluctuations have drawn widespread attention from the market.
The latest rebound of ETH may be due to Bitcoin (BTC) reaching an all-time high of $107,822 on December 16, 2024. BTC is the market leader, and other assets often follow its trajectory.
On January 20, 2025, Donald Trump will have his inauguration, and the market may once again experience a strong rebound! As a staunch supporter of cryptocurrencies, Trump's return has excited investors, and a surge in sentiment seems inevitable.
Can the asset return to its all-time high?
Ethereum is currently down 17.8% from its all-time high of $4,878.26. The asset peaked over three years ago in November 2021.
According to CoinCodex, ETH is expected to continue rising over the next few months. The platform predicts that ETH will return to its previous peak in February 2025. CoinCodex forecasts that ETH will hit an all-time high of $5,094.65 on February 21, 2025. Reaching $5,094.65 from the current price level would result in an approximate increase of 26.69%.
In the coming weeks, if the market continues its upward momentum, certain assets may hit all-time highs faster than expected! Recently, Trump appointed a new SEC chairman and a cryptocurrency czar in the White House, which undoubtedly injects new vitality into the market. These two major personnel appointments could become significant catalysts for ETH to quickly break through new highs.
