While 2024 was not particularly stellar for Ethereum (ETH) in terms of price action, 2025 might finally bring some much-needed optimism for ETH bulls. Several analysts believe ETH is on the verge of a massive breakout that could see the cryptocurrency establish new all-time highs (ATH). Is It Finally Time For Ethereum? Ethereum, the second-largest cryptocurrency by market capitalization, may finally outshine its peers this year. According to crypto analyst Jelle, ETH has been trading within a long-term bullish pennant for three years and recently tapped into all available downside liquidity. The analyst emphasized that the time for ETH to break out is near, anticipating an “old-fashioned ETH rally.” Jelle hinted at ETH entering five-figure territory, suggesting a minimum price target of $10,000. Similarly, crypto and forex trader Merlijn The Trader shared an optimistic outlook. The trader highlighted ETH’s performance against Bitcoin (BTC), showing it following an ascending triangle pattern. A decisive break above the 0.15 BTC level could finally trigger the much-anticipated altseason. Merlijn noted: ETH is primed to skyrocket to $8,000. The setup is clear, and Ethereum’s next breakout is inevitable. Another crypto enthusiast, BitcoinHabebe, shared their perspective on ETH’s price action. According to them, ETH is trading in a descending broadening wedge on the weekly timeframe. A clean breakout above the upper trendline of this pattern could push ETH to $5,000. Meanwhile, seasoned crypto market commentator Ali Martinez presented a thesis on ETH’s potential price trajectory for Q1 2025. Martinez pointed to a bullish inverse head-and-shoulders pattern forming on the daily chart. According to Martinez, ETH consolidated for approximately 37 days around the $2,800 price level in April 2024 before moving higher. The analyst expects a similar consolidation period as ETH forms the right shoulder of this pattern, with a breakout likely to occur by mid-February. Whales Losing Faith In ETH? While these price projections present a bullish outlook for ETH, some analysts remain cautious about the cryptocurrency’s ability to deliver extraordinary gains in the short term. On-chain data suggests that certain crypto whales are reducing their ETH holdings due to its underwhelming price performance compared to other cryptocurrencies like XRP, SUI, and Solana (SOL). However, data from crypto exchange-traded funds (ETFs) indicates that institutional capital may finally be rotating from BTC into ETH. Sustained capital inflows into ETH could help pave the way for altseason. At press time, ETH trades at $3,433, up 2.9% in the past 24 hours.
