Ethereum (ETH), the second-largest cryptocurrency by market capitalization, is expected to experience a significant price movement as it approaches its previous all-time high of around $4,878.
A prominent crypto trader and host of CoinBureau, Guy Turner, has expressed optimism about ETH reaching five-digit figures by 2025. He believes that once Ethereum surpasses its all-time high, it will encounter no significant supply or resistance levels above, allowing for a rapid increase in value.
Turner has used Fibonacci extension levels to set specific price targets for Ethereum, with $7,300 being the "base case" target. If Bitcoin experiences a substantial price increase, Ethereum could see even greater gains, potentially reaching around $14,600.
The interplay between Bitcoin and Ethereum remains crucial, as movements in Bitcoin's price often influence the broader cryptocurrency market. The potential for Ethereum to break its all-time high and attract more institutional and retail investment could have broader implications for the cryptocurrency market.
The increasing adoption of Ethereum's technology in decentralized finance (DeFi) and non-fungible tokens (NFTs) may contribute to its long-term value. As the market continues to evolve, the relationship between Ethereum and Bitcoin will shape the future of digital assets.