The Ethereum (ETH) network has been working to reach the $4,000 mark, a significant milestone for the cryptocurrency. Despite its potential, ETH has been gradually inching toward this target. Approximately three years ago, Ethereum achieved an all-time high of $4,891, sparking optimism in the community that it could eventually rise to $5,000.
However, as of now, Ethereum is trading about 24% below its peak value. Several factors could influence whether ETH can reach $4,000 before the year ends, including market trends, regulatory developments, and the overall performance of the cryptocurrency market. As investors and analysts keep a close watch, the question remains: Can Ethereum break through to $4,000 by year-end?
How High Can ETH Surge In December 2024?
According to CoinMarketCap, Ethereum, the second-largest cryptocurrency by market capitalization, is currently trading at $3,591.97. This marks a 1.43% increase in the last 24 hours. Despite slight decline, Ethereum experienced a significant upward trend earlier in the week, with its value increasing by nearly 8%.
In the past 30 days, Ethereum (ETH) has experienced a remarkable surge of over 48.13%, leading to significant gains for many of its holders. According to data from IntoTheBlock, an impressive 90.8% of Ethereum investors are currently in profit, marking the highest profitability level since June. This resurgence in value has seen Ethereum reclaim a strong position in the cryptocurrency market.
However, there remains a smaller subset of investors, approximately 9.2%, who are still experiencing losses, collectively holding about 2.8% of the total ETH supply. While this group may consider selling to cut losses, the overall impact on the market could be minimal as long as Ethereum’s upward momentum continues.
According to our expert’s technical and price analysis, Ethereum is a leading altcoin that may experience significant growth in December. Analysts predict Ethereum will trade between $4,038.00 and $3,729.28 throughout the month. This projected range is notably higher than its average price in November, indicating positive momentum.
If Ethereum achieves an average price of $3,843.68 in December, this would reflect a 6.32% increase from today’s current pricing. Investors should closely monitor Ethereum’s performance as it could present promising opportunities in the upcoming month. In addition, investors in Ethereum might see a potential profit of 5.54% with the altcoin in the coming month due to favorable market conditions.
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