Ethereum’s native token, Ethereum (ETH), has been on a slow and steady rise over the past three weeks, rising 28% since November 18th. Despite plummeting to $3,615 on December 5, the altcoin has bounced back and is currently trading there. Over $4,000.
Ethereum 4-hour chart. Source: Cointelegraph/TradingView
The yearly high remains at $4,098 and the trend continues to form higher highs and higher lows on the 4-hour chart. The Relative Strength Index (RSI) also looks healthy, currently below overbought territory.
Ethereum hints at a “paradigm shift” above $4,000.
The venture founder, an anonymous cryptocurrency analyst, has set his sights even higher for 2025 as Ethereum is on the verge of hitting $4,000. The analyst explained that Ethereum is consolidating within a three-year ascending triangle pattern and is approaching a new “paradigm shift.”
A venture founder’s bi-weekly analysis of Ethereum. Source: X.com
said the merchant.
“Ethereum is likely to repeat the impulsive breakout it did in 2016-2017 to push its way to a new ATH. Target price: $15,937 by May 2025”.
ETH at $16,000 would push the total market capitalization of altcoins past $1 trillion for the first time in history.
However, the analyst pointed out that Ethereum should close the weekly candle with support at $3,800, which increases the chances of ETH retesting its all-time high of $4,878 or the immediate price target.
Likewise, independent cryptocurrency trader Honey noted that Ether’s one-day chart “golden cross” is being broken following a previous bull run. The trader said ETH is at the beginning of a “giga pump” that will push the altcoin to new all-time highs.
Related: Anchorage Digital Supports Liquid Ethereum Staking
Ethereum Spot ETF Maintains Positive Momentum
After being overshadowed by the performance of the spot BTC ETF in 2024, the spot ETH ETF began to attract institutional attention towards the end of the year. Cointelegraph reported that the altcoin financial product recorded $428.5 million, its highest daily inflow since launch.
Ethereum ETF flow. Source: farside.co.uk
The Spot Ether ETF has seen inflows of more than $1.3 billion since November 18, with BlackRock’s iShares Ethereum Trust leading the way with more than $500 million in inflows this week, bringing total inflows to $2.6 billion.
Along with smart money interest and positive price action, Ethereum’s DeFi metrics are also improving. The total value locked on the Ethereum chain reached a yearly high of $77 billion on December 5, according to data from DefiLlama.
Ethereum TVL chart. Source: DefiLlama
Related: Analyst Says ETH/BTC ‘Collapse Is Over’ as Ether Reclaims $3.8K
This article does not contain investment advice or recommendations. All investment and trading activities involve risk and readers should conduct their own research when making any decisions.