The founders of crypto analytics platform Glassnode have made a bold prediction that Ethereum (ETH) will experience a significant upswing, setting a price target of $7,500 by 2025.
The experts, operating under the pseudonym “Negentropic” on the X platform, emphasized historical patterns and technical analysis to support their forecast, and particularly stressed that ETH could experience similar developments as during the last bull run.
“If we look at the history of ETH, we see that we had similar patterns in the development of ETH in early 2021… We believe the market is moving in a structured manner,” the experts wrote, adding “ETH to ~7500 USD as a final high? This structure gives us a target of ~7500 as a final high for ETH. These are the 161.8% Fib extensions of the structure we are currently seeing developing. This would mirror the Fib extension we have already seen in 2021, suggesting that a strong rally in ETH will begin soon!”.
Earlier this week, the pair highlighted Ethereum’s relative strength in a market dominated by Bitcoin, suggesting that speculation around an impending ETF launch could act as a catalyst and questioning whether this marks the start of a new cycle.
Other analysts also remain optimistic. Renowned technical analyst “LindaTrades” points out that Ethereum is currently consolidating in an uptrend channel and is ready to gain momentum for potential gains of $4,000-$4,800 between August and September.
However, market experts are increasingly optimistic about Ethereum’s future, especially regarding the potential approval of Ethereum spot ETFs. Expectations are already building ahead of the expected regulatory decisions next week, and experts predict that an approval will have a significant impact on the market.
Earlier this week, Standard Chartered estimated that the approval of Ethereum spot ETFs could attract inflows of up to $45 billion in the first year alone. According to their analysis, this inflow of capital could push the price of ETH to as high as $8,000 by the end of 2024.
Likewise, analysts at Steno Research forecast net inflows of $15 billion to $20 billion into Ethereum-focused funds over the course of the year, underscoring growing institutional interest despite some market skepticism. They predict that ETH could reach “at least $6,500,” driven by the expected inflow of funds into ETFs.
In addition, analysts at VanEck adjusted their long-term forecast for Ethereum earlier this month and are now targeting $22,000 by 2030.
Despite a brief setback this week, ETH showed resilience over the weekend, maintaining a tight trading range on shorter time frames as traders adopted a “risk-off” approach ahead of expected spot ETF approvals.
At press time, the coin was trading at $3,387, down slightly by 0.59% over the past 24 hours. According to CoinMarketCap data, trading volume also fell by 25% to $6.7 billion over the same period.
