The recent surge in the cryptocurrency market has boosted Bitcoin and altcoins, while Ethereum has also attracted attention with its rise. Having climbed above $2,700, Ethereum has been trading within a narrow range in recent days, searching for direction.
New assessments regarding Ethereum’s (ETH) price outlook continue to be made, attracting attention in the cryptocurrency market.
Ethereum Crosses Critical Threshold!
Milk Road analyst John Gillen stated in his latest assessment that Ethereum has broken through the $2,500 level, which he considered a critical resistance, and that this is a significant development that could push the price towards the $3,000 region.
The analyst refrained from giving a single figure for the Ethereum target, noting that the ETH price exhibits sharp fluctuations and doesn’t follow a particular pattern, adding that it’s “much harder to predict than Bitcoin.”
According to the analyst’s assessment, after $3,000, the real test for Ethereum lies at the $5,000 level. The analyst noted that ETH has struggled to surpass this level in the past.
Looking ahead, the analyst stated that if Ethereum breaks above the $5,000 level and remains there, the price could then reach the $6,000 to $10,000 range.
Long-Term Target: $10,000-$12,000!
Finally, in his longer-term assessment, the analyst states that Ethereum could rise to levels between $10,000 and $12,000 in the next 24 months. However, he emphasizes that this target is not a definitive price prediction and that the extent to which Ethereum continues to receive share from institutional and on-chain activity will be decisive.
*This is not investment advice.
