Ethereum’s been a bit sleepy lately, trading below last year’s peak. While everyone’s hoping for a big altcoin boom (“Altseason”), ETH’s price hasn’t quite exploded yet. But don’t worry, many believe 2025 will be huge for Ethereum.
The Analyst’s Take
Analyst Carl Runefelt recently weighed in on X (formerly Twitter). He sees Ethereum in an upward price channel, suggesting a possible short-term dip before a big price surge. This aligns with the cautious optimism many traders feel right now. They’re watching key support and resistance levels closely.
Ethereum’s 2024 Underperformance and 2025 Predictions
2024 wasn’t Ethereum’s best year; it underperformed Bitcoin and the expected Altseason didn’t quite materialize. But many think this year will be different. Historically, the year after a “halving” (a significant event in Ethereum’s blockchain) is great for altcoins, and Ethereum’s poised to benefit. The expectation is for a massive price increase in 2025. Runefelt’s analysis points to a possible drop to around $3,500 before the next big rally.
Technical Analysis: A Look at the Charts
Ethereum’s currently hovering around $3,650. A recent breakout above the 4-hour 200 moving average ($3,629) was a positive sign, showing renewed bullish momentum. Holding above this average would be a strong indicator of further price increases. However, if it falls below $3,629, a drop to $3,500 is possible. The next few days will be crucial in determining whether Ethereum continues its upward trend or experiences a temporary pullback. The $3,500 level is a key support level to watch.
The Bottom Line
Whether Ethereum breaks out immediately or dips slightly first, many believe 2025 will be a defining year. The coming weeks are critical for determining the direction of Ethereum’s price.
