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Ethereum’s Large Consolidation Trend Points To Possible Price Explosion To $8,000
Ethereum, despite being up 46% in 2024, faced a correction in December, dropping from $4,000 to below $3,400. Analyst Trader Tardigrade predicts Ethereum could surge to $8,000 by 2025, drawing parallels to its historical consolidation in 2018–2021, which preceded a massive rally. ETH's current consolidation is seen as the foundation for a strong upward move, akin to its earlier cycles. The rally might be driven by institutional demand and Spot Ethereum ETFs rather than DeFi and NFTs, which fueled 2021’s surge. Around 75% of ETH holders are now long-term investors, awaiting a move above $5,000. At $3,354 currently, hitting $8,000 would mark a 140% increase.