TL;DR

• Analysts predict ETH could hit $5,000 or even $10,000, with key resistance at $3,750 signaling a potential breakout.
• Rising daily active addresses and positive network growth suggest increasing Ethereum adoption, supporting a bullish outlook.

Where’s ETH Headed Next?

The second-largest cryptocurrency was on a tear last week, with its price briefly surpassing $4,000 on December 6. This was the highest level witnessed since March 2024.

Since then, though, ETH started losing steam, tumbling to approximately $3,500 amid the latest market correction observed at the start of the new business week. In the past several hours, the bulls have prevented a further fall, pushing the price to the current $3,720 (per CoinGecko’s data).

Despite ETH’s wobbly performance as of late, multiple analysts remain optimistic that the asset has yet to record fresh peaks. The popular trader using the X moniker CoinMamba predicted a new all-time high of $5,000 before the end of 2024.

My target for $ETH is still $5k by the end of this year. Do what you will with that information..

— CoinMamba (@coinmamba) December 10, 2024

X user Skew also