Ethereum (ETH) to Hit New High of $6000: When?

Ethereum (ETH), has been struggling to gain momentum in recent months. The cryptocurrency failed to gain traction, despite US SEC approval of ETH ETFs in 2017. Bitcoin (BTC) on the other had a record high following the US launch of ETFs.

ETH’s daily chart is down 1.4%, the weekly chart by 5%, the 14-day chart by 3.6%, and the month before it was down 11%. The asset is still up 37.4% on the annual charts, despite the drop.

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Ethereum Will Reach A New All-Time High!

ETH’s value is now 32.8% lower than its previous high, which was $4 878 26. Assets reached their peak around November 2021.

Ali Martinez is a prominent cryptocurrency analyst. According to him, ETH has an ascending channel. According to the analyst, the $2800 mark could be the level that pushes the asset towards $6000. A new record. A rally of 82.8% is required to reach the $6000 mark from current levels.

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Changelly has also presented a bullish view for Ethereum in 2025. According to the platform, this asset is expected to reach a price maximum of $7194.28 by year’s end. To reach $7194.28 at current prices will require a rise of 119%.

Market Rally Next Month?

By the end of next month, cryptocurrency could be in a new bullish phase. Donald Trump is set to be inaugurated as US President on 20th January, 2025. Trump’s support for crypto could spark another major market rally. Ethereum (ETH) may soon reach a new yearly peak. We will have to wait and see how the market behaves in the next couple of days.

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Also, it is possible that ETH may not be released after Trump’s inauguration. It is possible that the US economy will delay an interest rate cut. Investors may be scared away from investing in risky assets.