• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
Tuesday, October 28, 2025
The VR Soldier
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier
No Result
View All Result

Ethereum Signals Potential Return to Record Highs

Jordan Avery by Jordan Avery
February 20, 2024
in News
Reading Time: 3 mins read
0
ETHEREUM-ETH-PRICE-ALL-TIME-HIGH 1
Share on TwitterShare on Facebook

ETH has almost reached the $3 thousand mark. Let’s figure out whether this means the beginning of the growth of Ethereum, which will ultimately lead it to a new all-time high

This week, the price of Ethereum (ETH) broke through the convergence area of ​​long-term resistance levels and almost reached $3,000.

 

Indicators Turn Bullish For ETH

The weekly timeframe shows that the price of ETH has been rising rapidly since October 2023. Last week it broke through a long-term horizontal area that has alternated between support and resistance since June 2021. This bullish breakout allowed Ethereum to reach a high of $2,984 yesterday, its highest level since April 2022.

The weekly relative strength index (RSI) is giving an extremely bullish signal. It is rising and has just risen above the 70 mark. In the previous bull cycle, this triggered an acceleration in the upward movement towards an all-time high.

 

What do analysts say?

Cryptocurrency traders and analysts on Platform X are positive about Ethereum’s prospects. CryptoMichNL believes that ETH will outperform Bitcoin ( BTC ) in the subsequent upward move, he said: “#Ethereum at $2,980. This is still a massive milestone for the transition from Bitcoin to Ethereum. Upward momentum continues in Ethereum, not Bitcoin.”

InmortalCrypto also believes that ETH will outperform BTC due to the bullish ETH/BTC chart, while CredibleCrypto predicts that the ETH price will rise after a potential short-term decline:

 

Ethereum Price Prediction: New All-Time High In The Making?

An analysis of price dynamics since May 2022 reveals all the signs of an impulse upward movement.

Last week, ETH broke through two important resistance levels. One of them was the resistance line of the ascending parallel channel, built from the 2022 low. Prior to this, the token made two unsuccessful attempts to break out of this channel.

The second resistance is the middle line of the long-term range existing since 2021.

ETHEREUM-ETH-PRICE-ALL-TIME-HIGH
Image: TradingView

Thus, Ethereum price action and indicator signals indicate that the ongoing upward movement is impulsive and will eventually lead to a new all-time high. The high of the range is located at $4,000, which is 35% higher than the current price.

Despite this bullish outlook, a close of ETH below $2,700 could result in a nearly 20% drop to the channel’s midline at $2,500.

 

Ethereum Fundamentals Are Stronger Than Ever

Currently, more than 25% of the circulating supply of ETH is locked in staking . This reduces the number of coins available for spot trading.

In addition, about 0.21% of the total asset is burned annually. According to Ultrasound.Money, the supply of Ethereum has decreased by 357,148 tokens worth approximately $947 million since the “merger” in September 2022. The launch of the long-awaited ETH spot ETFs will also reduce the available supply.

Tags: Analysisbull marketcryptocurrency forecastETHETH PriceETH Price PredictionEthereumEthereum price predictionMarket Trendstechnical analysis
Previous Post

Polygon (MATIC) Reached $1: Analysts are Eyeing $2

Next Post

Ripple (XRP) Rebounds Above Long-Term Support, Growth Anticipated

Related Posts

Pepe Price Outlook: 30% October Drop May Set Stage for Reversal
Meme Coins

Pepe Price Outlook: 30% October Drop May Set Stage for Reversal

October 27, 2025
Gold Pulls Back from Record High as Bitcoin Extends Recovery
News

Gold Pulls Back from Record High as Bitcoin Extends Recovery

October 27, 2025
Bitcoin Steadies Near $110K Despite CPI Uptick, Signaling Market Maturity
News

Bitcoin Steadies Near $110K Despite CPI Uptick, Signaling Market Maturity

October 24, 2025
Featured

Cardano Slips After NIGHT Token Event

October 22, 2025
Binance Beats SEC—Crypto Cheers the Legal Victory
Featured

BNB Price Rises After Robinhood Listing

October 22, 2025
Featured

Trump Envoy in Senate Crypto Probe

October 22, 2025

Press Releases

Bitcoin Miners Outperform BTC by 500% as AI Integration Redefines the Sector
News

Bitcoin Miners Outperform BTC by 500% as AI Integration Redefines the Sector

by Jordan Avery
October 19, 2025

Bitcoin miners have outpaced BTC’s performance in 2025, recording gains of up to 500% as artificial intelligence (AI) reshapes the...

Read more
Bitcoin Falls as $100K Support Faces Pressure After Market Sell-Off

Bitcoin Falls as $100K Support Faces Pressure After Market Sell-Off

October 11, 2025
NFT Market Sees $129M Weekly Sales as BNB Chain Surges

NFT Market Sees $129M Weekly Sales as BNB Chain Surges

September 28, 2025
Ethereum Can Outshine Google Says Vitalik Buterin – Here’s How

Ethereum Can Outshine Google Says Vitalik Buterin – Here’s How

September 21, 2025
XRP Aims for $4 as ETF Buzz Heats Up: Can the Hype Hold?

XRP Aims for $4 as ETF Buzz Heats Up: Can the Hype Hold?

September 10, 2025
The VR Soldier

© 2024 The VR Soldier

Navigate Site

  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

Follow Us

No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases

© 2024 The VR Soldier