The post Ethereum Continues With Its Sluggish Behavior—When Will the ETH Price Hit A New ATH? appeared first on Coinpedia Fintech News
When the markets are surging, Ethereum’s price remains restricted within a range that appears to have become the ‘new normal’ within the crypto space. Besides, the ETH/BTC pair is printing new lows every day, suggesting Ethereum’s declining strength against Bitcoin. This has raised concerns for the ETH holders, but the veterans believe a strong bullish wave may push the ETH price higher, but only after meeting certain conditions.
Based on the RSI analysis, Ethereum is projected to rise above $15,000 to $18,000 sometime in mid-2025. Secondly, the weekly MACD also underwent a bullish crossover, flashing bullish signals and a probability of a 150% rise as it did before. These moves remain uncertain as the ETH price does not show signs of a breakout. Regardless of the current price action, retail traders remain optimistic about the next price action as they continue to hold ETH.
The data from CryptoQuant suggests the SOPR, or the Spent Output Profit Ratio, remains below 1.10. This is used to check whether the sellers are in profit or loss, and the current levels suggest there is no excessive profit-taking yet. On the other hand, exchange ETH inflows are minimal, indicating no selling top signal at the moment. These metrics reflect a strong buy-and-hold sentiment among the market participants. This further suggests the trader’s confidence in ETH’s long-term growth potential.
The ETH price is currently sitting firmly over the support, which has been transformed into a base. Currently, traders have been obsessed with memes or the other newly launched tokens, which could fade once the liquidity starts flowing back into large-cap tokens like Ethereum. This could happen after Bitcoin starts ranging, which has already begun, and the dominance reaches its peak and slashes down.
This could be when the money flows back into Ethereum and the ETH price will reach a new ATH. The cycle does not stop here, as the liquidity will flow to the other altcoins, triggering a strong altseason.
