Myriad users are currently forecasting a 63.6% chance that Ethereum will surpass its previous all-time high of $4,891 by December 31, 2025. This comes after Ethereum experienced a remarkable price surge of 58% in July, with its current trading hovering around $3,780.
While there is an overall bullish sentiment in the market, Ethereum’s journey to a new record high faces significant challenges. Myriad, a prediction market platform funded by Dastan—Decrypt’s parent company—has seen considerable trading volume of over $72,000, marking an increase in optimism among traders. However, just days prior, the odds reflected a more bearish outlook, indicating a fluctuating sentiment in the market.
Ethereum’s price trajectory has captured the attention of technical traders, especially with the formation of a so-called “golden cross.” This occurs when the asset’s 50-day average price moves above its 200-day average, often viewed as a strong bullish signal. The last time this occurred for Ethereum was last year, suggesting potential upward momentum as traders look forward.
Despite the encouraging signs, the notorious $4,000 price level looms large. ETH has struggled to maintain momentum past this point, with numerous failed attempts since 2021 creating a psychological barrier for traders. Resistance is evident in the trading volume profile, showing heavy activity between $3,890 and $4,200, where traders often take profits.
For Ethereum to reach a new all-time high by the end of 2025, it must overcome multiple hurdles: convincingly breaking the $4,103 local high, maintaining a rising trend with a decisive average directional index (ADX) above 25, and ensuring that previous resistance levels become support. Additionally, the holiday season often results in decreased trading volumes, which could complicate sustained price movements.
Nevertheless, the optimism surrounding Ethereum remains, especially with institutional interest driving bullish sentiments. If momentum continues and significant trading levels are maintained, many believe Ethereum could very well break through its previous record.
Critical price levels to watch include the $4,103 mark for establishing a new upward trend, the $3,100 support level, and the ultimate goal of exceeding $4,891, as traders navigate this dynamic and sometimes unpredictable market.
Overall, while challenges exist, the technical indicators and market enthusiasm hold promise for Ethereum as it seeks to reclaim and establish new heights in the coming months.