Ethereums Golden Cross Signals $11K Target by 2025: Will History Repeat?
- Despite a 1.45% dip, Ethereum remains above key support levels, signaling potential for bullish movement.
- A Nexo-connected whale deposited 72,419 ETH onto Binance, sparking speculation about future market moves.
- Ethereums recent Golden Cross on the weekly chart raises expectations of a price surge toward $11,000 by 2025.
Ethereum (ETH) has shown resilience and given indications of upward momentum as 2025 is about to kick in. Though the cryptocurrency recently slipped 1.45%, with its current trading price at $3,859, ETH has been consistently holding above key support levels and flipping crucial resistance levels into support. This shows that the cryptocurrency is gearing up for the next phase of its bullish price trajectory.
Over the last day, Ethereums trading volume is also down 13%. Though this may be a setback in the short run, it did not knock the overall positive sentiment in ETH.
While the general market conditions remain favorable, Ethereum is well-placed for a potential rally in the following months. Analysts are still optimistic about the future price potential of ETH, and many of them predict that its price will increase significantly.
Nexo Whale Deposits 72,000 ETH, Raising Concerns
According to the latest data from Lookonchain, in a rare development, a whale associated with Nexo unstaked a whopping 18,000 ETH, worth approximately $70.8 million, an hour ago and transferred the funds onto Binance.
This whale has been quite active in moving Ethereum, having sent a total of 72,419 ETH (about $270.6 million) to Binance since Dec 2. Despite these heavy movements, the whale still has 42,108 ETH, which is valued at about $165 million.
When these move in and out, they are watched by market participants because it tends to lead to broader trends. While some may view large exchange deposits as potential selling pressure, others will recognize this as preparation for further upward pressure, depending on what will be done with these funds.
Golden Cross Hints at Ethereum Surge Toward $11K
Adding to the positive outlook, crypto analyst Titan Of Crypto indicated that Ethereum is ready for more gains, citing a possible price tag of $11,000 for ETH by 2025. This speculation follows from technical indicators, foremost of which is the supposed Golden Cross formation on the Ethereum weekly chart.
The last time this pattern appeared, back in early 2021, ETH surged by 200% in just 10 weeks. If history repeats itself, Ethereum might see a similar explosive move, potentially pushing its price toward the $11,000 mark.
The currently ongoing market activity, which is combined with technical pattern formation and positive investor sentiment-both point toward Ethereum geared up for a big move through 2025. Spurred by whales, forced by technical factors, and/or compelled by broader general market trends, ETH remains highly watched with strong potential futures.
Related | Bitcoin Bulls Eye $120K: Whats Next for BTCs Price?
Read more: https://www.tronweekly.com/ethereums-golden-cross-signals-11k-target-by-2025-will-history-repeat/
Text source: TronWeekly
