crypto.news 2025-05-24 17:15:00

Ethereum forms bullish setup, Polymarket traders eye $4k

Ethereum price rally has stalled in the past 15 days, but Polymarket traders and technicals point to more upside in the coming weeks. Ethereum ( ETH ) traded at $2,550 on Saturday, a few points below this month’s high of $2,735. It has jumped 85% from its lowest level this year. Most Polymarket traders believe that ETH price will jump to $4,000 in 2025. A poll shows that the odds of this happening have risen to 40% from last month’s low of 16%. These odds are at their highest level since March 1. Moving to $4,000 would imply a 60% surge from the current level. Polymarket places the odds of Ethereum price hitting $5,000 at 25% and $6,000 at 17%. On the other hand, the odds that it will crash to $1,000 have fallen to 16%. You might also like: Will Tron price rise as crypto billionaire Justin Sun meets Trump? There are signs that Ethereum’s fundamentals have improved in the past few weeks. For example, Nansen data shows that the number of transactions on the network has grown by 35% in the last 30 days to 39 million. Active addresses have increased by 0.4% to 6.7 million. Additionally, spot Ethereum ETFs have started attracting inflows. This week, they added over $238 million in assets, bringing the cumulative total to $2.76 billion. BlackRock’s ETHA has $3.4 billion in assets, while Grayscale’s ETHE and ETH have $2.9 billion and $1.28 billion, respectively. Ethereum price technical analysis ETH price chart | Source: crypto.news Technicals point to more ETH price gains in the coming months. It formed a golden cross as the 50-day and 200-day Arnaud Legoux Moving Averages crossed each other earlier this month. Ethereum is also forming a bullish flag pattern on the daily chart. The flagpole started earlier this month and peaked at $2,736, the 50% Fibonacci Retracement level. The recent consolidation is part of the flag formation. Therefore, there’s a chance that the coin will rebound in the next few days or weeks. A move above the 50% retracement at $2,736 will point to more gains, potentially to the 61.8% retracement point at $3,052. Rising above that retracement will point to more upside to $4,000. You might also like: Sui Foundation stays neutral as $162m hack recovery goes to vote

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