Can ETH Reclaim its All-Time High Price?

Ethereum (ETH), the cryptocurrency, has again broken through $4000. Assets have rallied by 1.4% on the daily charts and 8.1% weekly charts. They also gained 10.1% 14-day charts. ETH has also seen a price increase of 80.5% from December 2023.

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Why is Ethereum rallying?

ETH is struggling to maintain the $4000 mark this year. Market cap-wise, the second biggest crypto project breached that $4000 barrier in both March and this month. The asset’s price did not remain stable in either instance, and it quickly experienced a decline.

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ETH could have seen its latest surge due to Bitcoin’s (BTC) new record high of $107,822 in December 2024. BTC dominates the cryptocurrency market and most other assets tend follow it.

Donald Trump’s inauguration is scheduled for Jan. 20th, 2025. We may see another rally in the market. Trump’s crypto-friendly stance is causing a surge in investor confidence. This spike in investor sentiment may lead to ETH reaching a new high.

Can the asset regain its all-time high level?

Ethereum has fallen 17.8% since its peak of $4,878.26. It peaked more than three year ago, in November 2021.

CoinCodex predicts that ETH’s price will rise over the coming months. Platform predicts ETH will regain its former peak by February 2025. CoinCodex believes ETH will reach a new record high on February 21, 2025. A rally of 26.69% is required to reach $5094.65 compared with current levels.

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Assets could reach new heights sooner than predicted if market momentum increases in the coming few weeks. Trump named both a White House cryptocurrency czar and a SEC chair. These two developments may propel ETH much faster than expected to a higher peak.