According to Juan Pellicer, a senior researcher at IntoTheBlock, Ethereum could reach a new all-time high as early as December. The analyst also noted that ETH could follow Bitcoin, indicating that accumulation by large holders and the activity of retail investors could be key factors for the start of a rally.
"The current forecast for Ethereum closely mirrors Bitcoin's positive trajectory, with significant potential for a rally at the end of the year that could gain even more momentum if it manages to surpass the previous ATH of $4,000. Our on-chain analysis examines trends in accumulation by large holders, indicating spot purchases by both institutional and retail investors," Pellicer shared with BeInCrypto.
