Ethereum (ETH) has made slight gains in the last 24 hours, rallying 6.4% in the daily charts. The asset continues to trade negatively in the weekly, 14-day, and monthly charts, dipping 26.2%, 30.1%, and 18.2%, respectively.
Source: CoinGecko
Also Read: Ethereum ETFs Get Positive August Start Despite Grayscale’s $2B in Outflows
ETH faced a significant correction in the last few days, following Bitcoin’s (BTC) brief dip to sub-$50,000 levels.
The market-wide bloodbath was likely because of uncertainties around when the Federal Reserve would cut interest rates and increasing global geopolitical tensions.
Along with cryptocurrencies, global stock markets also hit, with Japan and Taiwan experiencing their highest market losses in several decades.
When Will Ethereum Reclaim Its All-time High of $4878?
Source: Investopedia
ETH hit an all-time high of $4878.26 on Nov. 10, 2021, over two years ago. The 2021 bull run was one for the history books when several crypto assets hit their respective all-time highs. ETH is currently down by nearly 50% from its 2021 peak.
Price Predictions for 2024
According to the researchers at Telegaon, Ethereum (ETH) could hit a maximum price of $4,854.04 in 2024, which is just 0.5% shy of its all-time high price.
Price Prediction for 2025
The platform does not clarify the month when ETH could hit this level. Telegaon anticipates ETH to hit a maximum price of $6,589.17 in 2025, a rise of 167.2% from current price levels.
Also Read: Solana Beats Ethereum in Volume, Faces Centralization Issues
Changelly predicts ETH will hit a maximum price of $4,773.52 in 2024, about 2.2% shy of its 2021 peak. The platform predicts the second-largest crypto by market cap to hit a maximum price of $7,194.28 in 2025, a rise of over 190% from current price levels.
According to Changelly and Telegaon, Ethereum (ETH) will come close to its all-time high this year but will reach a new peak in 2025.