Focus on $6,000: Ethereum price could soar already in Q1 2025
A technical analyst who calls himself Crуpto Pate has made a bold forecast about the prospects of ETH. He believes that the crypto asset has every chance of growing to $6,000 in Q1 next year.
“The course Ethereum bounced off the $2100 barrier (channel support level). The next resistance zone is located in the $5500–6000 area, so I expect the next stop at $60000,” the analyst noted.
Ethereum has recently outpaced BTC in terms of growth amid the recent Fed rate cut. Over the past seven days, the price of Bitcoin has grown by 7.3%, while ETH has risen by 14.1%.
The latest data from Coinmarketcap shows that the price of Ether has fallen slightly over the past 24 hours. ETH is trading at around $2,600.
Ruslan Lienkha from YouHodler believes that the current state of the market indicates the dominance of bullish sentiment. At the same time, according to the expert, there is a risk of a possible correction in the event of an overly positive mood among community members or a change in external factors.
“The positive funding rate for Ethereum reflects the increased demand for long positions using leverage,” the expert explained.
In addition, he reminded that funding rates also remain volatile.