Ethereum (ETH) is following the market-wide rally, surging above $2.8k for the first time since May 2022. ETH has rallied 2.7% in the daily charts, 16.3% in the weekly charts, 23.8% in the 14-day charts, and more than 11% over the previous month. Moreover, ETH’s price has surged by 68.4% since February 2023.
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ETH is currently following Bitcoin’s (BTC) trajectory. BTC’s latest rally could be due to increased inflows into spot BTC ETF (Exchange Traded Fund) investment vehicles. However, ETH is still down by over 40% from its all-time high of $4878, which it attained in November 2021.
When will Ethereum (ETH) reclaim its all-time high?
According to CoinCodex, Ethereum (ETH) will breach the $3000 level by next week. The platform anticipates the second-largest cryptocurrency to hit $3078.45 on Feb. 22, 2024, a rise of about 7.9% from current levels. However, CoinCodex predicts ETH to fall below $3000 soon after.
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Changelly anticipates Ethereum (ETH) to reclaim its all-time high in 2025. The platform predicts ETH to hit a maximum price of $6,263.37 next year, a rise of nearly 120% from current levels.
Telegaon, on the other hand, anticipates Ethereum (ETH) to reclaim its all-time high in 2024. The platform predicts ETH to hit a maximum price of $5,054.04 in 2024, a rise of over 77% from current levels. However, the platform does not clarify which month ETH could reclaim its all-time high.
However, there is a possibility that ETH could reclaim its 2021 peak very soon. There is a lot of talk about the US SEC (Securities and Exchange Commission) approving a spot ETH ETF later this year. A spot ETH ETF, along with BTC’s halving in April, could usher in a bull run for the crypto market.