A top crypto YouTube and X outlet has expressed confidence that Ethereum will rebound from its recent underperformance and rally to unprecedented prices.
Specifically, Altcoin Daily shared in an X post that Ethereum, the second-largest cryptocurrency by market cap, would easily surpass its 2021 peak price and current all-time high to new levels before the end of this year.
The June 2 tweet followed Ethereum’s recent sluggish price action. After raising optimism among enthusiasts and the broader crypto community with a 38% surge within three days in early May, the altcoin leader has since ranged.
It also swelled to a two-month high of nearly $2,800 in late May but has since retraced, with strong resistance in the region impeding further upward thrust. Nonetheless, Altcoin Daily remains resolute that Ethereum will soon fend off all supply zones, even reaching those around its all-time high of $4,867.
Ethereum Simply Going Above $5,000
Altcoin Daily, the prominent YouTube and X page managed by two brothers, Aaron and Austin Arnold, shares a bullish disposition towards Ethereum. While many complain about the altcoin king’s underperformance compared to Bitcoin, the top pundits have insisted that Ethereum will repel the bearish trend before the end of the year.
For perspective, Bitcoin is up 12.40% year-to-date, but Ethereum is down 22% in the same timeframe. While Ethereum showed strength against the premier crypto asset in May with a 26.8% rally, the ETH/BTC chart remains down 30% since the start of the year at 0.0248.
Nonetheless, yesterday’s analysis suggests Ethereum could rebound, not necessarily to the detriment of Bitcoin, but against its dollar valuation. Specifically, Altcoin Daily predicted a minimum price of $5,000 by the end of 2025, calling it “actually very simple.”
Notably, the rally to $5,000+ would see Ethereum rally past its current all-time high. Based on the current price, this would result in a 91.8% growth.
Influential Figure Insists on $10,000
While market watchers see $5,000 as bullish, others believe Ethereum has more to offer. According to crypto influencer Ash Crypto, the second-largest cryptocurrency by market cap would double Altcoin Daily’s $5,000 prediction to $10,000.
An accompanying chart supporting his claims suggests Ethereum is mirroring its 2016/2017 price action. The 1W chart highlighted that the asset stalled at a resistance level similar to where it currently is after its early 2016 rally, dipping to $6.40.
After consolidating at the resistance level around $15 for months, Ethereum broke out in March 2017, rallying over 2,700% to a high of $420 in June 2017. Ash Crypto noted that Ethereum is following a similar price action, with the resistance at $4,100 proving too strong for the asset in two attempts in March and December 2024.
Following a similar dip to April’s low of $1,383, Ether has rebounded, with the supply zone its next target. The analyst predicted that it would defy the resistance and target a 283% uptick to $10,000 next.
Moreover, strong investor traction and the adoption of Ethereum Treasuries by large firms further add to the bullish momentum. Ethereum co-founder Vitalik Buterin recently revealed plans to scale Ethereum’s layer 1 network tenfold by 2026, another confidence booster and potential price catalyst.
Ethereum trades at $2,606 at the time of writing.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
