Ethereum (ETH) is making headlines with a strong price rally, climbing to $3,395.55 after gaining 4.99% in the last 24 hours. Analysts are increasingly bullish, with predictions of Ethereum hitting new highs as it edges closer to breaking critical resistance levels.
Bullish Predictions
Market experts believe Ethereum’s momentum could drive it beyond its current levels. Popular analyst CRYPTOWZRD highlighted the $3,550 resistance as a key threshold, suggesting ETH could surge to $4,000 if broken.
Another analyst, Cold Blooded Shiller, sees Ethereum forming a new upward trend and predicts a potential price of $5,000 by March. Meanwhile, CrediBULL Crypto forecasts an even more dramatic rise, with ETH hitting a minimum of $10,000 and possibly reaching $20,000 by the end of the market cycle.
Factors Driving the Rally
Ethereum’s recent performance is linked to several key developments:
- Market Revival: The broader cryptocurrency market has seen renewed optimism, with the global market cap reaching $3.8 trillion.
- Institutional Moves: World Liberty Financial, a DeFi platform with ties to U.S. President Donald Trump, recently purchased 3,079 ETH, boosting its total holdings to over 74,000 ETH.
- Policy Support: Trump’s recent executive order to explore a “National Digital Asset Stockpile” has also sparked optimism, expanding interest in cryptocurrencies like Ethereum.
With market sentiment turning bullish, Ethereum is poised to challenge its previous highs. Breaking the $3,550 resistance could mark the beginning of a significant rally, potentially pushing ETH to record levels in the coming months.
Also read: WazirX Gains Court Approval for User Compensation Plan Following $235M Hack
