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As Ethereum (ETH) continues to trade above the $3,300 mark, market analysts are optimistic about a potential recovery that could reshape the altcoin landscape.
Currently priced at $3,321, ETH has shown remarkable resilience amidst a broader market correction led by Bitcoin (BTC). The recent downturn has tested ETH’s critical support level at $3,290, preventing a decline towards the psychologically significant $3,000 barrier.
Could Ethereum Reach $14,000 By March 2025?
Crypto expert Crypto Rover has made a bold prediction that ETH could experience an “explosion” in the first quarter of 2025. Drawing on historical trends observed in previous Bitcoin Halving years, particularly in 2017 and 2021, where ETH saw substantial double-digit increases from January through March.
In 2017, Ethereum saw impressive monthly gains of 31.9% in January, 48% in February, and a staggering 214% in March. Similarly, in 2021, ETH recorded significant gains of 78.5% in January, 8.4% in February, and 34.7% in March.
According to the expert’s analysis, if Ethereum maintains its current price level for the rest of the year, it could follow a similar trajectory in 2025.
Based on historical data and averages from price increases between 2017 and 2021, ETH could potentially reach around $5,000 in January, $6,400 in February, and soar to $14,336 per token by March.
These projected increases not only indicate a recovery but also suggest the possibility of tripling Ethereum’s all-time high of $4,878 reached in November 2021.
In addition to Ethereum, other altcoins like XRP, Solana (SOL), Binance Coin (BNB), and meme coins like Dogecoin (DOGE) are also expected to benefit from the market correction and consolidation.
Crypto Rover has advised altcoin holders against selling, stating that portfolios still have the potential for significant gains. The next three months are anticipated to be highly positive for the crypto market.
Key Support Levels For ETH’s Price
Analyst Gabriel Maur has highlighted Ethereum’s current price action, emphasizing key support levels between $2,800 and $2,900.
Maur notes that the support structure has now turned into resistance, which, once breached, becomes a crucial support level. The upward trend indicated by the 55-period Exponential Moving Average (EMA) further supports the bullish outlook.
As long as ETH maintains above this critical support range on weekly closes, the likelihood of continued upward momentum favors buyers.
Maur has identified potential price targets of $4,093 and $4,868 (the previous all-time high), suggesting that surpassing the all-time high could lead to a price discovery phase with further upside potential indicated by Fibonacci extensions.
Featured image from DALL-E, chart from TradingView.com