Ethereum Eyes $7,500 After Breaking Key Resistance
Ethereum is up 25% and only 32.7% away from its ATH. Could $7,500 be the next major target for ETH?
- ETH has surged 25% since breaking consolidation.
- Only 32.7% below its all-time high of $4,890.
- Analysts see $7,500 as the next major target.
Ethereum (ETH) has been showing strong bullish momentum in recent days. Since moving out of its lengthy consolidation zone, the second-largest cryptocurrency by market cap has surged over 25%. This impressive rally has brought it within striking distance of its all-time high (ATH) of $4,890, set in November 2021.
Currently, Ethereum is just 32.7% below that peak. This rapid gain has caught the attention of traders and analysts, many of whom now believe that a new price discovery phase may be on the horizon.
$7,500 Target After All-Time High?
If ETH manages to break past its previous ATH, several experts are forecasting a potential run to $7,500. The rationale behind this target includes historical price patterns, increasing demand for Ethereum-based applications, and the growing anticipation around Ethereum ETF developments.
Additionally, the Ethereum ecosystem has seen steady growth in DeFi, NFTs, and Layer-2 solutions—all contributing to ETH’s bullish narrative. The market sentiment remains optimistic, especially with Bitcoin maintaining stability and institutional interest in Ethereum rising.
However, reaching $7,500 will not be without challenges. Resistance near the ATH could cause temporary pullbacks, and broader macroeconomic conditions will also play a role. Still, the momentum suggests ETH is preparing for another leg upward, potentially rewriting its price history.
Ethereum Bulls Are Back
Ethereum’s price rally is also fueled by on-chain data showing increased wallet activity and a declining ETH exchange supply. These indicators typically reflect stronger holding behavior, often preceding larger moves in the crypto market.
With only a 32.7% climb needed to match its ATH and bullish sentiment building, Ethereum appears to be “cooking,” as some traders put it. If momentum continues, the $7,500 mark might not be too far-fetched.
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