Key Takeaways
- Ethereum’s price gains strong social dominance ahead of Bitcoin as the price rallies to $3,250.
- Ethereum’s price action in the last few days indicates bullish price dominance by whales.
- Ethereum’s price forms a bullish 2-month classic pattern, indicating that a breakout to is possible$5,000.
Ethereum is gaining quite a buzz in the cryptocurrency market following its strong bullish breakout from its price range to a high of $3,180 for the first time since February 2025 as price of Ethereum is tipped to initiate altcoin rally in the coming months.
Despite the price of Bitcoin seeing a slight price decline toward a region of $116,500 the price of Ethereum and other crypto altcoins have remained strong following a strong breakout for ETH towards $3,180 as speculation of a potential rally to a new all-time highs of $5,000 to $10,000 is beginning to emerge.
Why Is Ethereum (ETH) Pumping Today?
Ethereum’s social dominance has overtaken Bitcoin in the last 24 hours, as speculation suggests that institutional money is flowing into the Ethereum ecosystem. This could potentially influence the price of Ethereum to reach new all-time highs in the coming months.
Additionally, the next few days will be a significant turning point for the crypto space, as the U.S. government plans to introduce a bill for Bitcoin and other crypto assets. This would enable the growth of crypto projects in the U.S., thereby making the state a hub for cryptocurrency.
However, the inflow of Ethereum spot ETFs (Exchange-traded funds) has also contributed to this price surge, as the price of Ethereum could break above its two-month bullish pattern.
According to crypto expert Cas Abbe, the price of Ethereum has formed one of the biggest bull flags for a long time. A breakout from this 2-month bull flag could see the price rally towards $5,000 and above, as the price appears to be on the verge of a major breakout.
Ethereum Price Analysis
ETH Bullish Price Action – Source TradingView
The cryptocurrency market has experienced significant bullish price action over the last couple of days, following a breakout to new all-time highs for Bitcoin. Larger-cap altcoins, such as Ethereum, have demonstrated strong price action to the upside, breaking above $3,000.
Ethereum’s price hasn’t traded above $3,000 since February, as the price of ETH suffered a significant price crash from its $3,700 point to a low of $1,570 in April, signaling a potential price bottom. The price rebounded from that point to reclaim its key support zone of $2,000.
Following ETH’s price breakout above $2,000 and retesting this zone to confirm a flip from resistance to key support, the price traded in a range for months but has broken out above $3,000, a key resistance level. As bulls look to drive the price towards $4,000, this breakout is likely to be a significant development.
If the price of Ethereum breaks above its previous all-time highs, we could see a significant price rally in the coming months, potentially reaching a new all-time high of $5,000 and $10,000 by the end of 2025, based on market speculation.
Related Reads
Algorand (ALGO) Price Prediction for July – $1 Next?
Ethereum Price Prediction July – Will Price Hit $3,000 this Month?
XRP Price Prediction for July – Are Bulls Eyeing $3 Resistance?
