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Ethereum may climb to $8,800 in early 2025 as bullish indicators emerge from a crypto market reset. Analysts highlight reduced leverage and a surge in new wallet creation as key drivers behind the potential rally.
Ethereum May Surpass $8,800 in Q1 2025
Market experts predict that in the first quarter of 2025, Ethereum's value could rise above its previous all-time high.
Even though Bitcoin broke the $100,000 barrier on December 6th, it has been unable to maintain a price above the crucial $4,000 psychological level in the cryptocurrency market.
The deleveraging of the cryptocurrency market last week is "indicative of a reset in leveraged long exposure," as stated in a market study by Bybit and Block Scholes, suggesting that Ether would begin to overtake Bitcoin's advances in the near future.
Reduced Leverage Signals Bullish Momentum for Ethereum
Due to the decreased leverage, Ether may be positioned for an all-time high surge in the first quarter of 2025. Prognosticators at Bybit have informed Cointelegraph that "a new all-time high in Q1 2025" is in store. They also note that "ETH shows strength in derivative markets as the price catch-up anticipation is in full swing."
Having said that, Bitcoin is clearly the better investment option for the year 2024. Cointelegraph data shows that Bitcoin had a return on investment of over 54% during the last six months, but Ether only managed a return of 12%.
Technical Patterns Point to $8,800 Target for Ether
An ascending triangle, a technical chart structure used to indicate the continuance of an uptrend, appears on the daily chart of Ether, suggesting that it may be preparing for a rise to beyond $8,800.
The Long Investor, a well-known cryptocurrency analyst, says that Ether must first break through the $4,100 resistance mark. “A break above $4,100 next, and this could run to the ATH level at $4,865. I am holding $ETH until $8,800,” the analyst wrote on X.
December may see ETH begin to eclipse Bitcoin's momentum to a greater extent, according to Ether's historical link with the Bitcoin halving cycle.
Rising Wallet Creation Signals Growing Ethereum Interest
"Every cycle, following the Bitcoin halving, Ethereum underperformed BTC for no more than 8 months until it explodes against BTC," wrote the well-known crypto analyst Venture Founder in an X post. Furthermore, they included:
Another indication of the increasing interest from investors in Ether is the large number of wallets that have been created recently.
According to market intelligence company Santiment, the daily average of Ethereum addresses established in December was over 130,000. This represents an eight-month peak previously observed in April.
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