Analyst: Ethereum may reach a historic high in Q1 next year

According to Cointelegraph, market analysts suggest that Ethereum could reach a historic high in the first quarter of 2025. According to a market report released by Block Scholes, with the de-leveraging of the crypto market last week, Ethereum may soon catch up with Bitcoin's rise, indicating a "reset of leveraged long positions".

Analysts suggest that the liquidation of leverage could lay the foundation for Ethereum to reach an all-time high in the first quarter of next year. It is expected that a new high will be set in Q1 2025 as expectations for Ethereum's price surpassing unfold fully and ETH shows strong momentum in derivative markets.

The Long Investor analyst suggests that Ethereum needs to break through key resistance at $4,100 first. If it breaks through $4,100, it might continue rising until reaching its historical peak at $4,865 and plans on holding onto ETH until it reaches $8,800.