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- Crypto analyst BATMAN highlighted that Ethereum price has historically shown strong performance in Q1 of the post-Bitcoin halving year.
- The surge in the demand for spot Ethereum ETFs shows growing institutional interest and could serve as a catalyst to fuel further rally.
Ethereum price has bounced back strongly by 4.4% in the last 24 hours following the broader crypto market rally, eyeing an immediate breakout above $3,500 for a further rally to $4,000 and above. On the four-hour chart, the ETH price already shows bullish price action following a triangle breakout leading to bullish action.
Ethereum has posted six consecutive bullish candles, rising 3.17% from its local support trendline and climbing from $3,333 to its current price of $3,437.
The Ethereum price has broken past the local resistance trendline while crossing the 20 and 50 EMA lines. With this uptrend in the last 24 hours, ETH is now approaching the 100 EMA line. Additionally, the price has also surpassed the short-term resistance level at $3,415, supported by a bullish breakout from the dynamic resistance trendline.
A look at the four-hour RSI levels shows a surge to 60.32, reflecting growing bullish momentum. With the RSI approaching the overbought zone, there’s a rising buying pressure, while a potential bullish crossover between the 20 and 50 EMA lines further enhances the likelihood of a sustained uptrend.
Another crypto analyst, BATMAN, noted that the price of Ethereum has likely found its bottom. The chart below shows a strong reversal following the support in the $3,000-$3,200 range. Highlighting Ethereum’s historically strong Q1 performance in post-Bitcoin halving years, the analyst notes that the current setup positions ETH for a potential upward move, per the CNF report. As per the chart below, the two subsequent resistances for ETH would be $3,650 and $4,000.
Will Ethereum Price Rally to $10,000 By End of 2025?
Although the Ethereum price is expected to increase immediately to $4,000, crypto market analysts are pointing out even higher targets for ETH this year in 2025. Renowned crypto analyst Crypto Patel has expressed optimism about Ethereum’s ($ETH) long-term potential, forecasting a price target of $10,000 within the next 8-12 months. “The journey to the moon isn’t over yet—tighten your seatbelt accordingly!” the analyst stated.
On the other hand, the demand for spot Ethereum ETFs has been on the rise, especially following Donald Trump’s victory in the US Presidential elections in November 2024.
2024’s major development was the launch of BlackRock’s iShares Ethereum Trust (ETHA), which has quickly become a dominant player in decentralized finance (DeFi) and NFTs. With over $1.3 billion in inflows and $3.2 billion in assets under management, ETHA highlights the growing recognition of Ethereum as a serious investment asset, moving beyond its origins as a technology platform, reported CNF.
Ethereum ETF flows have seen a notable uptick amid the ongoing market recovery. On December 31, U.S. spot Ethereum ETFs recorded a total net inflow of $35.93 million. Fidelity led the bullish trend, contributing $31.77 million to the total, while Grayscale’s Mini Ethereum Trust saw a strong inflow of $9.77 million.
