Ethereum (ETH) continues to generate bullish conversation in the cryptoverse, as prominent analysts see big price moves ahead. According to Venture Founder, Ethereum is forming a three-year rising triangle pattern, which could set the stage for a breakout. Based on a similar comparison of data from 2016-2017, the altcoin hits $15,937, possibly by May 2025.
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Such an increase would bring Ethereum's market capitalization above $1 trillion, a historic first for the blockchain behemoth. Analysts see a weekly close above $3,800 as an important milestone. From there, Ethereum perhaps targeting the all-time high of $4,878 before moving on to higher territory. But is the market ready for this increase?
This $ETH breaking out of the triangle reinforcement is very important.
Now #Ethereum we only need to close this weekly candle, and we may not return to this sub-$4,000 level again in this bull cycle.
The encouraging trend from 2016-2017 is repeating itself.
PT: $15,937 by May 2025 pic.twitter.com/dNzcO3mPe1
– entrepreneur (@venturefounder) December 6, 2024
Institutional Interest drives optimism
More institutions are becoming interested in Ethereum, which makes people more optimistic about its long-term prospects. Spot Bitcoin ETFs got a lot of attention at the beginning of the year, and now Ethereum-based currencies are following suit.
In particular, from mid-November, spot Ether ETFs received more than $1.3 billion in new inflows. The iShares Ethereum Trust from BlackRock has made the biggest return, $500 million in just one week.
More than just numbers, these investments show increasing trust in the Ethereum ecosystem. According to analysts, this flow of institutional funding will be the solution for the expected meteoric rise of ETH. With institutional investors continuing to pour money into the digital currency, Ethereum's value proposition as a long-term investment appears stronger than ever.
Technical Indicators and Forecasts
Ethereum price behavior in recent weeks has also been rather favorable. After a bit of a lull, the altcoin has recovered, climbing 30% since November 18. With analysts underscoring its resilience against market trends, it is trading at $3,686 right now, which is a great figure.
Consolidation technical indicators indicate that ETH is preparing for the next action. Moving averages are showing stability, so the Relative Strength Index (RSI) remains neutral. Predictions show ETH probably a 43% increase in six months and 22% in three months, data from CoinCheckup shows.
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Looking forward
The indicators point favorably although Ethereum's path to reach $15,937 is uncertain. With favorable technical conditions, institutional inflows, and strong ecosystem development, the altcoin is poised for significant increases.
Featured image from INX, chart from TradingView
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