Ethereum to $20,000 by January 2025, a prediction that divides experts!

As the cryptocurrency market enters a new phase of acceleration, Ethereum, the second largest crypto by market capitalization, has just crossed important technical levels, generating renewed interest among investors and analysts.

A promising rebound for Ethereum

Since the beginning of September, Ethereum has shown clear signs of recovery after a long period of decline. According to the new data, ETH saw a 4% increase and crossed the $2,600 mark. This increase, which follows a long-term downtrend that began in March 2023, appears to be restoring investor confidence. Ethereum is regaining positive momentum and the market seems poised to push the price even higher. Thus, investors are now focusing their attention on the $2,800 resistance, a crucial level that could pave the way for a more significant progression.

This renewed interest in Ethereum goes beyond mere technical indicators. Ethereum’s funding rate, a key indicator of buying pressure in the futures market, has also rebounded in recent days. After falling earlier this month, it is back near the 0.01 level, reflecting increased trader confidence. This recovery in funding rates suggests a possible extension of the upward trend, at least in the short term.

Divisive upward trajectory

While some market participants are decidedly optimistic about the future of Ethereum, others remain more cautious. The starting point for these debates comes from the massive transactions carried out by several Ethereum whales. In fact, two of them transferred over $53.6 million in ETH to exchanges, fueling rumors of a potential massive load shedding. These significant moves would lead to an imminent selloff that could dampen Ethereum’s growth in the coming weeks.

Despite these uncertainties, Ethereum could follow a similar trajectory to 2023, when the crypto hovered in a relatively stable range between $1,500 and $2,500 before resuming a more pronounced bull cycle. If it can maintain its current momentum, Ethereum could see a rise to $20,000 by January 2025, according to some analysts. However, this prediction remains conditional on the absence of major disruptions, especially in the global macroeconomic context.

The future of Ethereum looks uncertain but promising. On the one hand, technical indicators and newfound trader confidence work in favor of continued progression in its price. And on the other hand, the movement of some whales and global economic uncertainties are potential obstacles that need to be watched carefully.

Luc Jose A.

A graduate of Sciences Po Toulouse and holder of the blockchain consultant certification issued by Alyra, I joined the Cointribune adventure in 2019. Convinced of the potential of blockchain to transform many sectors of the economy, I made a commitment to raise awareness and inform the general public about this ever-evolving ecosystem. My goal is to enable everyone to better understand blockchain and take advantage of the opportunities it offers. Every day I try to provide an objective analysis of current events, decipher market trends, convey the latest technological innovations and put into perspective the economic and social problems of this ongoing revolution.

DISCLAIMER OF LIABILITY

The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.