Original | Odaily Planet Daily (Translated: @OdailyChina)
Author | Wenser (Translated: @wenser 2010)
Original Title: Is ETH Just 5% Away from Its All-Time High, with $4,600 Only the Starting Point?
Market data shows that early this morning, ETH broke through $4,600, currently reporting at $4,670, just under 5% away from its all-time high price; BTC price stabilized around $120,000, currently reporting at $119,614; the total cryptocurrency market capitalization broke through $4.1 trillion, currently reporting at $4.13 trillion, creating a historical new high. SOL, XRP, BNB and other top 10 cryptocurrencies have seen varying degrees of increase. Currently, the most concerned question among crypto investors is: When will ETH break its new high? Will the driving forces of this cycle be sufficient to support further growth? Where is ETH's price ceiling? Odaily Planet Daily will provide a brief analysis of these questions in this article.
ETH New High in Progress: May Create Historical New High Before This Friday
... [rest of the translation continues in the same manner]Analyst: ETH Price Uptrend Channel Opened, Highest Target Price May Be $20,000
Analyst Merlijn stated that ETH's price uptrend channel has been opened, with the current highest target price potentially set at $20,000. Additionally, trader BitBull pointed out that driven by massive short squeezes and institutional buying, ETH reaching a new historical high is more likely, and if the weekly closing price is above $4,100, a new historical high could appear within 1-2 weeks. Previously, ETH's high was around $4,875, set in November 2021.
Bitmine Board Chairman: ETH May Rise to $16,000
BitMine (BMNR) Board Chairman Thomas Lee said that referencing the high level of Ethereum to Bitcoin (ETH/BTC) exchange rate in 2021, ETH price might potentially rise to $16,000.
Placeholder Ventures Partner: ETH Conservatively to Rise to $8,000, Optimistically to $13,000 and Higher
Placeholder Ventures Partner Chris Burniske noted that market sentiment around ETH has dramatically changed in the past month, transforming from "undesirable" to "market darling". Institutional investor activity is also recovering, supporting ETH's bullish prospects. For instance, on-chain data shows SharpLink Gaming recently added 77,210 ETH to its Ethereum treasury. Analyst "Wolf" outlined two ETH price scenarios, predicting a "conservative" target of $8,000 and an "optimistic" scenario potentially reaching $13,000 or higher.
Greeks.live: $4,300 May Be Important ETH Support, Expected to Rise to $4,900-5,000 Range
Greeks.live Macro Research Analyst Adam pointed out: The group shows a clear bullish market sentiment, with traders generally focusing on tonight's CPI data's potential market impact. Most members believe Ethereum is performing strongly, with the key price of $4,300 serving as crucial support, and expect it might break historical highs to reach the $4,900-5,000 range.
Yi Lihua: Super Bull Market Coming, ETH Will Rise to $4,800, Mainstream Coins Will Start Rotating
Liquid Capital Founder Yi Lihua stated: "With trade war resolution and rate cut expectations, a super bull market is coming. Following the rotation law, after BTC rises, ETH will rise. When ETH reaches a new high around $4,800, mainstream coins like LTC, ENA, UNI will rotate upwards. The altcoin season will begin, especially for those with solid fundamentals. Hold spot, do not short. For outsiders constantly asking if they should buy, the unified advice is to allocate 10% of assets to purchase."
In summary, Yi Lihua, who was the earliest to predict "ETH price will quickly break $3,000", is ironically the most conservative.
Finally, according to 8 Marketcap data, ETH's market cap is currently $560 billion, surpassing Netflix's market value and ranking 25th globally in asset market value. This might just be the beginning. For ETH, the next market cap target might be the 21st-ranked payment giant Visa.
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