Ethereum (ETH) experienced several ups-and-downs in 2024. Even after the introduction of spot ETFs, the asset didn’t gain much momentum for the majority of 2024. ETH began to rise after Donald Trump won the US Presidential Election in November 2024.
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Ethereum’s Latest Price Movements
ETH’s price has seen a significant correction in the past few weeks. ETH’s price has dropped below $3400. It was above $4000 earlier in the month, but now it is under that mark. ETH’s price is down 1.9% in the daily charts, 2.1% in the weekly charts, 16.7% in the 14-day charts, and 9.6% over the previous month. ETH’s price has dropped, but it is still up 46.2% from late December 2023.
Why has the stock market fallen?
ETH’s current dip is likely due to Bitcoin (BTC) falling below $93,000. BTC’s descent has had negative repercussions for the entire market.
On the other hand, BTC’s dip is likely due to the Federal Reserve taking a hawkish stance on its monetary policy. The US inflation rate increased from 2.7% to 2,7%. This increase prompted the Fed to only announce two rate reductions in 2025, instead of three.
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How much can ETH reach in 2025?
The $5000 mark will represent a new high-watermark for ETH. For the asset to reach $5000 it must increase by more than 50%.
Telegaon estimates that ETH prices will peak at $6589.17 per ETH in 2025. A price increase of 97.36% is expected if ETH reaches $6589.17 in 2025.
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Analysts at Changelly are now even more optimistic about Ethereum (ETH). Platform analysts predict that the asset will reach a price maximum of $7194.28 by 2025. To reach $7194.28 at current prices will require a rise of approximately 115.48%.
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Source: watcher.guru
