Ethereum (ETH), the world’s second-largest crypto by market cap, may finally be poised for a breakout after years of underwhelming performance. With both traders and the broader community expressing renewed confidence, the ETH price appears ready to close the gap between its leading technology and lagging price action.
Renewed optimism reflecting in ETH price
After more than three frustrating years of struggling way beneath its all-time highs, ETH price has been registering double-digit percentage hikes, rising over 20% in the last seven days, and investors are taking note. According to CoinGecko, 89% of the ETH community is bullish today, a sharp reversal from the cautious mood that has dominated since the 2021 peak.
Much of this optimism can be traced to positive technical signals and network upgrades, and emerging macro catalysts, such as record Ethereum ETF inflows. Prominent crypto trader Cas Abbé sees ETH price continuing to go up and to the right. He commented:
“Ethereum dominance has entered up-only mode. For 3+yrs, ETH went through a price suppression despite massive upgrades. But now, prices have started to catch-up. I think Ethereum dominance is going above 20% by Q3 end.”
Arthur Hayes, former CEO of BitMEX, also weighed in with a candlestick chart pitting Ethereum against Bitcoin and the simple words:
“$ETH is choosing violence right now.”
Hayes had previously spoken on the Bankless podcast, saying that ETH was now primed for a reversal:
“ETH was kind of dead. Everyone hated it. The BTC/ETH ratio was falling, Solana was running… it was time. Everybody thought it was dead… the most hated coin goes up the fastest in the next cycle.”
A $10-15K target this cycle
Some traders believe the ETH price could go substantially higher still, reaching as much as $10,000 to $15,000, as Master of Crypto posted:
“$ETH Price Target This Cycle: $10K–$15K. That’s a solid 3–4x from its last high. ETH usually moves more than BTC in both directions –…
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