Ethereum (ETH) traded steadily into the weekend, holding its ground after breaking through the $2,800 resistance level earlier this month.
Although its gains this week have been more restrained than those of top performers like ADA, SOL, and BTC, the second-largest crypto asset has seen a notable gain of about 34% over the past month.
Despite trading within a narrow range of $3,275 to $3,400 over the past 24 hours, bullish market sentiment prevails, with 55% of community votes expressing optimism, per CoinMarketCap. Ethereum’s ability to hold steady at elevated levels suggests strong support around current prices, with analysts increasingly optimistic that a potential breakout could push ETH toward a five-digit valuation.
Notably, popular crypto analyst Alan Santana has issued a bold forecast, predicting Ethereum could reach $15,000 by the end of 2025. In a tweet on Saturday, the pundit credited this ambitious target to increasing institutional adoption, optimism around potential spot ETF approvals, and Ethereum’s recent market performance, which he believes will drive substantial price growth over the coming years.
The technical analyst further outlined multiple price scenarios for Ethereum, suggesting that while $15,300 represents his most optimistic target, intermediate milestones of $5,300, $7,300, and $11,300 could be achieved along the way.
“Ethereum is on a path of long-term growth, is already here,” Santana stated.
According to him, the market’s current trajectory suggests that reaching new all-time highs could be “easy,” with an initial target of $5,300 representing a 60% increase from current prices.
This optimism is supported by Ethereum’s robust technical indicators, particularly the MA200 level, which has consistently provided strong support since November 2022. According to him, current market conditions closely resemble patterns observed during previous bull runs, with weekly trading volumes reaching peaks not seen since late 2022.
Elsewhere, analyst Ali Martinez also underscored Ethereum’s potential to outperform Bitcoin in the current cycle. “Every market cycle has experienced a phase where Ethereum outperforms Bitcoin. That hasn’t happened yet in this cycle, but it’s on the horizon,” Martinez tweeted, pointing to Ethereum’s MVRV momentum as a sign of significant upside potential.
He added that Ethereum whales have capitalized on current conditions, purchasing over $1.4 billion worth of ETH over the past 2 or so weeks, while spot ETH ETFs have transitioned from distribution to accumulation, amassing $147 million. That said, Martinez projects Ethereum could test the $4,000 and $6,000 levels in the short term, with an even more bullish theory suggesting a $10,000 target if ETH mirrors the S&P 500’s price action.
At press time, ETH was trading at $3,499, reflecting a 4.23% surge over the past 24 hours.