Ethereum, the second-largest cryptocurrency by market
capitalization, has seen a sharp rise in price following strong market
momentum. The live price of ETH stands at $2,412.09, representing a 24.2%
increase over the past 24 hours.
The H1 ETHUSD chart indicates that the price formed a double
bottom after finding support. Since then, it has moved upward with strong
bullish momentum. As of writing, the price faced resistance near the 2500.0
level. Traders may wait for a period of consolidation or a corrective move,
followed by a potential bullish signal, before considering further long
positions.
Ethereum Weekly Gains Top 31 Percent
Its total trading volume during this period reached $478.92
million. Over the last seven days, Ethereum’s USD value has gained 31.31%. With
a circulating supply of 120,731,250 ETH, Ethereum’s market capitalization is
now $295.46 billion. The daily percentage change in market cap was not
disclosed.
You may find it interesting at FinanceMagnates.com: Is
It a Good Time to Trade BTC to ETH?
Ethereum Enables Smart Contracts and Dapps
Ethereum is a decentralized blockchain platform introduced
in 2013 and launched in 2015 to enable programmable transactions through smart
contracts and decentralized applications (dapps).
🚨BREAKING:INSTITUTIONS ARE BUYING $ETH LIKE NEVER BEFORE!!! pic.twitter.com/9uuuvCUDYr
— CryptoGoos (@crypto_goos) May 9, 2025
Its native cryptocurrency, Ether (ETH), is used to pay
transaction fees, secure the network, and support various decentralized finance
(DeFi) activities. Unlike Bitcoin, which is focused on value transfer, Ethereum
is designed as a general-purpose blockchain that supports a broader range of
digital tools and services.
Analysts Weigh In on 2025 and 2030 Price Targets
Analysts and market experts have provided various
insights into Ethereum’s future potential. Optimistic projections include
analyst Venturefounder on X (formerly Twitter), who suggests that Ethereum may
break out of three years of triangle consolidation, with a target price of
nearly $16,000.
His forecast for 2025 includes a conservative estimate of
$5,000–$7,000 and an optimistic range of $10,000–$15,000.
$ETH breakout will be legendary $10,000 #Ethereum is programmed this cycle! pic.twitter.com/IFIHdx0Gt0
— Elja (@Eljaboom) December 3, 2024
Another analyst, Elja, predicts a “legendary” ETH
breakout, with potential five-digit values in the current cycle. For 2030,
standard projections range from $15,000–$20,000, while the most bullish
forecast from Ethprofit.eth suggests a rise to $32,000, asserting that the bull
run has yet to start.
This article was written by Tareq Sikder at www.financemagnates.com.
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