Ethereum welcomes a big rebound! Price breaks through $3,470, targeting five digits!

Click on the avatar to join the live chat!

Ethereum (ETH) has shown signs of recovery in its recent strong performance, currently trading at $3,474, up 8.5% in the past 24 hours, with a trading volume of $49.95 billion. Analysts, including Guy Turner from CoinBureau, are closely monitoring ETH's movement and predict that by 2025, Ethereum's price could surpass five digits.

Breaking historical highs, ETH has huge potential

In November 2021, Ethereum reached an all-time high price of $4,878. Turner pointed out that if ETH breaks this price, it may enter a new price level, with Fibonacci extensions indicating that $7,300 is the next key target. He also emphasized that ETH's relative performance against Bitcoin will affect its price potential, as the current ETH/BTC exchange rate is still declining.

Short-term technical analysis of Ethereum

Currently, ETH faces strong resistance at $3,550, which was previously a support area but has now turned into resistance. If it breaks this level, ETH could continue to rise towards higher price regions. The Relative Strength Index (RSI) is currently at 46, indicating that market sentiment is neutral to slightly bearish. If it breaks through $3,550, ETH is expected to trigger stronger bullish momentum; conversely, if it fails to break through, it may face selling pressure and test support levels.

Click on the avatar to join the live chat!