Traders Grow Increasingly Bullish on Ether, Eyeing Potential New Highs
Crypto traders are expressing strong optimism about Ether (ETH), with one commentator claiming its price could soar “far beyond your wildest dreams.”
Ether’s Price Movement Hints at a Big Breakout
Ether is showing signs of “structural changes” on its price chart, signaling that a significant price surge may be imminent. Some analysts suggest it could revisit its all-time high (ATH) within the next week.
On Dec. 9, Bankless podcast host Ryan Adams speculated in an X post that a new ETH ATH “could happen” soon. Ether’s previous ATH of $4,878 was achieved in November 2021, and a 24% weekly gain from its current price of $3,946 would be required to reach a new peak, according to CoinMarketCap data.
Traders Anticipate a Seven-Day Rally
Pseudonymous trader Pentoshi shared with his 830,900 followers that Ether is undergoing structural changes and seeing consistent ETF inflows. He pointed out that ETH had its “highest weekly close of the year” and suggested its ATH could be retested sooner than anticipated. Pentoshi noted that the current lack of significant resistance could act as a “magnet” pulling Ether toward its ATH, with further potential for “clear skies” beyond that level.
Market Sentiment Turns Highly Bullish
Another crypto trader, Poseidon, predicted that Ether is on the verge of breaking out of a 4-year price range, potentially reaching levels beyond expectations. On Dec. 9, Poseidon said ETH’s breakout could take it “much higher, far beyond your worst nightmares.”
This bullish sentiment follows Ether surpassing $4,000 for the first time since March 2024. Analysts also believe Ether’s underperformance compared to Bitcoin may be reversing.
Benjamin Cowen, founder of Into The Cryptoverse, suggested on Dec. 4 that the ETH/BTC ratio is stabilizing and could rise over the next 6-12 months.
The Road Ahead
With Ether up 66.7% over the past 12 months and analysts predicting a return to form, market participants are closely watching the next seven days for signs of a new all-time high. If realized, this could mark a pivotal moment in the cryptocurrency market.
