ETH Price Prediction: Can Ether (ETH) Hit $20000 This Year?

A popular crypto analyst is super bullish on Ethereum's native token, Ether (ETH), suggesting that a $20,000 price for the world's second-largest cryptocurrency by market cap is in the making despite the current bearish sentiment.

A popular crypto analyst believes that Ethereum’s (CRYPTO: ETH) native token, Ether (ETH), is poised for a massive rally, with a price target of $20,000 being entirely reasonable.

Analyst Credible Crypto shared a bullish analysis of ETH on the monthly time frame, highlighting a key technical setup that could lead to a strong breakout.

“We don’t always get HTF PA that is this clean, and the only thing I like better than crystal clear HTF PA is sentiment to be in the absolute gutter along with it.”

Credible Crypto further noted that Ether is primed to “come back with a vengeance” in the next few months, adding that “ironically enough, it seems it’s going to leave some of its strongest supporters (former .eth’s) behind.”

To note, Ether's performance in 2024 left many observers underwhelmed. Despite managing a strong rally, the second-largest cryptocurrency failed to pierce its current lifetime time high of $4,878, hitting a high of only $4,047 in December — roughly 15% below its November 2021 peak.

At press time, Ether was changing hands at $3,140, as per CoinGecko data. It touched a high of $3,707 earlier this month but has since retraced below $3,500 and is struggling to recover above that zone.

Credible Crypto, however, believes that ETH could soar by over 190% from the current level.

“$10,000 is a bare minimum once we break out, in my opinion, and I think $20,000 is certainly not unreasonable by the end of the cycle.”

Credible Crypto went on to identify an immediate hurdle for Ether in the vicinity of $4,000. Notably, a bullish close above $3,560 would bolster the chances of Ethereum reclaiming the psychologically significant $4,000 price point in Q1 2025, potentially flipping it into support.

World Liberty Financial's Aggressive ETH Accumulation Spree

In other news, World Liberty Financial (WLFI), the decentralized finance project linked to former U.S. President Donald Trump, has been revealed to have quietly amassed millions of dollars worth of Ether in recent weeks.

According to data from Arkham Intelligence, WLFI now holds 55,702 ETH, valued at approximately $185 million based on current market prices.

The crypto project, which is supported by Trump’s family, has yet to disclose the motivation behind these substantial ETH purchases, leading to speculation that staked Ether ETFs could be on the horizon, given the Trump administration's focus on crypto.