CandleFocus

An ATH for ETH?

Author: Content Editor
Bitcoin continues to reach new highs, with Ethereum (ETH) showing potential for a rally as well. ETH's current price of $3,470 is about 30% below its all-time high of $4,900. Market strategist Joel Kruger believes that if ETH can close above $4,000 for the week, it could accelerate its rally toward retesting its price peak by the end of the year. However, both BTC and ETH dipped following the FOMC meeting on Wednesday. Despite this, Kruger believes that the recent selling of crypto assets will not have a significant impact on long-term price outlooks. Research associate Luke Nolan predicts that ETH could hit a new high in February or March, as long as market momentum continues and ether ETF flows remain strong. Several factors are working in ETH's favor, including a favorable ETH/BTC ratio, a shift in sentiment among retail and institutional investors, and its attractiveness as a relative value trade since it has yet to reach an all-time high this cycle. Despite BTC being an "easier sell" due to its digital gold narrative, Nolan believes that people are starting to understand the value proposition of Ethereum more now than when the products were initially launched.

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