In the whirlwind of the 2024 crypto market, Ethereum stands out as a star performer. Breaking through the $4,000 barrier, this leading altcoin is poised to set a fresh all-time high. With ETH currently priced at $4016 and enjoying a 3% intraday surge, the excitement is palpable. The bullish reversal signals a breakout from the overhead resistance trendline, hinting at even greater gains ahead.
As the current trend gains momentum, it eyes the 100% trend-based Fibonacci retracement level at $4634, having already surpassed the 78.60% Fib level. If buyers successfully navigate this hurdle, ETH could soar past $4600 and set its sights on the coveted $5,000 mark by March.
Reflecting on the tumultuous ride of 2023, Ethereum's market price rebounds impressively, forming an ascending triangle pattern on the weekly chart. Starting from the psychological barrier of $1000 in November 2022, the upward trajectory on the Ethereum weekly chart remains robust.
With ETH boldly surmounting overhead resistance, breaching the $4000 barrier, and signaling a breakout rally, the outlook for a sustained uptrend is promising. Furthermore, avoiding a death cross on the weekly chart adds to the optimism. If buyers can propel Ethereum's market value above $5000, the ongoing bull run could see exponential growth in 2024. Factor in potential Spot ETF approvals and the impact of the Bitcoin Halving on altcoins, and ETH could potentially reach an astounding $10,000.
Additionally, considering the momentum and positive indicators, Ethereum Price Prediction 2025 looks even more promising, with the potential for further growth and advancements in the cryptocurrency landscape.