- Ethereum’s price at $2,611 shows signs of repeating its 2021 surge after the 2024 halving.
- Breaking the $5,000 level is crucial for ETH to achieve its $10,000 target in this cycle.
- Market trends suggest Ethereum is gaining momentum despite skepticism about its potential.
According to crypto analyst Ash Crypto, Ethereum is drawing comparisons between its 2021 rally and the current cycle. In a recent post, the analyst highlighted parallels between Ethereum’s price action following the 2020 Bitcoin halving and the current trajectory after the 2024 halving event.
ETH is currently trading at $2,611, with skeptics doubting a rally due to market conditions. However, Ash Crypto insists that history repeats itself and foresees Ethereum reaching $10,000 in this cycle.
In 2021, Ethereum saw a meteoric rise, climbing from $450 to over $4,800, defying initial skepticism tied to Bitcoin dominance. Ash Crypto compares this scenario to 2025, where similar doubts prevail.
Critics argue that the focus on Bitcoin will prevent an ETH rally, but the analyst counters that this reasoning was proven wrong in 2021 and is likely to be wrong again. Ethereum’s price structure now resembles its pre-rally phase from 2020, with a consolidation period followed by an explosive breakout.
Can Ethereum Surpass $5,000 and Rally Toward $10,000?
Ash Crypto also pointed out the psychological and technical significance of the $5,000 threshold, which ETH failed to break in 2021. If Ethereum can surpass this barrier during this cycle, the path to $10,000 becomes more plausible. As shown in the chart, current price consolidation mirrors the conditions preceding its last breakout. While skeptics remain firm, the comparison suggests Ethereum could follow the same explosive growth pattern seen four years ago.
The upcoming months will be crucial for Ethereum, mainly as the market digests the impact of the recent halving. With ETH already showing signs of resilience around the $2,600 mark, it remains to be seen whether the predicted $10,000 target is achievable. Ash Crypto closes with a confident claim: “They were wrong in 2021, and they’ll be wrong again.” For investors, the key lies in tracking Ethereum’s ability to sustain upward momentum amid broader market movements.
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