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Analysts predict Ether could hit $20K after 2025 correction

Analysts predict Ether could hit $20K after 2025 correction

GrafaGrafa2024/11/25 06:20
By:Mahathir Bayena

Ether (CRYPTO:ETH) is projected to face a short-term price correction before resuming its rally toward a potential cycle top of $20,000 in 2025, according to analysts.

In the past month, Ether surged over 33%, reaching $3,368 on November 23.

Analysts, including Bitget CEO Gracy Chen, suggest that Bitcoin’s anticipated breach of $100,000 could trigger a temporary pullback for Ether. 

“The market is already oversold, and a healthy correction might occur… any potential retracement as soon as BTC breaches the $100,000 mark might impact Ethereum,” Chen commented.

Despite this short-term outlook, long-term predictions for Ether remain bullish. 

Crypto analyst Wolf pointed to a three-year ascending triangle consolidation, indicating a strong upward trajectory. 

“A measured move from the breakout of this massive triangle targets $20,000,” Wolf noted.

Ethereum’s dominance as the leading smart contract blockchain underpins its recovery potential. 

“[Ethereum] is still the most-used smart contract protocol by volume, with targeted upgrades enhancing its utility,” Chen highlighted.

These factors suggest Ether is well-positioned to reclaim and surpass its previous all-time high by 2025. 

Market trends also indicate a likely rotation of funds from Bitcoin to Ether as Bitcoin’s rally stabilises. 

Benjamin Cowen, CEO of ITC Crypto, noted that Ether historically records positive quarterly returns against Bitcoin’s (CRYPTO:BTC) price in the first half of post-Bitcoin halving years, supporting a favorable outlook for 2025.

While short-term volatility may affect Ether’s trajectory, analysts remain confident in its long-term potential, driven by its utility and market dominance. 

At the time of reporting, the Ethereum price was $3,342.34.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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