Glassnode analysts have predicted a significant rally for Ethereum (ETH), setting a price target of $7,500 by 2025. They emphasized historical patterns and technical analysis to support their forecast, pointing out similarities to the last bull run in early 2021. They believe that ETH could experience a strong rally soon, reaching $7,500 as a final high, based on Fibonacci extensions from the current structure.
The analysts highlighted Ethereum’s relative strength in a market dominated by Bitcoin, speculating that an imminent ETF launch could act as a catalyst for further growth. They questioned whether this signals the beginning of a new cycle for Ethereum. Other analysts, such as technical analyst LindaTrades, noted that Ethereum is currently consolidating within an upward channel, indicating potential gains from $4,000 to $4,800 between August and September.
Market experts are increasingly optimistic about Ethereum’s future, particularly with the potential approval of Ethereum spot ETFs. Anticipation is high for expected regulatory decisions next week, with experts predicting significant market impacts upon approval. Standard Chartered estimated that the approval of Ethereum spot ETFs could attract up to $45 billion in inflows within the first year, potentially driving ETH’s price to $8,000 by the end of 2024.
Steno Research analysts forecasted net inflows of $15 to $20 billion into Ethereum-focused funds over the year, highlighting growing institutional interest despite market skepticism. They predict ETH could reach at least $6,500 driven by the expected influx of funds into ETFs. VanEck analysts also adjusted their long-term forecast for Ethereum, targeting $22,000 by 2030, indicating confidence in Ethereum’s future growth potential.
Despite a brief setback earlier in the week, ETH has shown resilience, maintaining a narrow trading range over the weekend. Traders adopted a “risk-off” approach ahead of anticipated spot ETF approvals. At the time of writing, Ethereum is trading at $3,387, reflecting a slight 0.59% decline over the past 24 hours. Its trading volume also decreased by 25% during the same period, indicating some market volatility and uncertainty.
