The creators of the crypto data platform Glassnode have put forth a confident forecast for Ethereum (ETH), predicting a significant surge in price to $7,500 by 2025.
Operating under the pseudonym “Negentropic” on the X platform, the analysts highlighted historical trends and technical analysis to support their prediction, suggesting that ETH could follow a similar trajectory to the last bull market.
They stated, “If we look at ETH history, we can see similarities to early 2021 patterns… We believe that market moves in structures,” adding that they foresee ETH reaching around $7,500 as a final high. This projection is based on the 161.8% Fib-extensions from the current pattern, resembling the rally seen in 2021.
Recent discussions have also emphasized Ethereum’s strength compared to Bitcoin, with speculation about a potential ETF launch acting as a catalyst for further growth. Analysts like “LindaTrades” have noted that Ethereum is currently consolidating within an upward channel, with the potential to see gains between $4,000 to $4,800 in the coming months.
Experts are increasingly positive about Ethereum’s future, especially with the possibility of Ethereum spot ETF approvals on the horizon. Anticipation for regulatory decisions next week has led to projections of significant market impacts upon approval.
Standard Chartered estimates that the approval of Ethereum spot ETFs could bring in up to $45 billion in inflows within the first year, potentially pushing ETH’s price to $8,000 by the end of 2024. Similarly, Steno Research predicts net inflows ranging from $15 to $20 billion into Ethereum-focused funds over the year, with a target price of “at least $6,500” for ETH.
VanEck analysts have adjusted their long-term forecast for Ethereum, now aiming for $22,000 by 2030. Despite a minor setback this week, ETH has shown resilience, maintaining a narrow trading range as traders await spot ETF approvals.
As of the latest update, Ethereum is trading at $3,387 with a slight 0.59% decline over the past 24 hours. Trading volume has also decreased by 25% during the same period, standing at $6.7 billion according to CoinMarketCap data.