Ethereum could reach $4,878 next week

Traders are increasingly optimistic about Ethereum's (CRYPTO:ETH) potential for a price surge in the coming week. 

Recent analysis indicates that Ether is undergoing significant "structural changes," which may lead to a substantial price movement. 

Crypto commentator Ryan Adams noted on December 9 that a new all-time high for Ether could be achieved within the next seven days. 

Currently, Ether's price stands at approximately $3,868, while its previous peak was $4,878 in November 2021. 

For Ether to reach this new high, it would require a 24% increase from its current value. 

Over the past year, Ether has seen a remarkable 66.7% increase, reflecting its growing popularity among investors.

Pseudonymous trader Pentoshi echoed Adams' sentiments, stating that Ether is experiencing both structural changes and increased ETF inflows. 

He highlighted that Ether recently achieved its highest weekly close of the year, suggesting that a retest of its all-time high might occur sooner than anticipated. 

"There is not much resistance from here to ATH, which should act as a magnet," Pentoshi remarked, indicating a bullish outlook for the cryptocurrency.

Another trader, Poseidon, suggested that Ether could break out of its long-standing trading range, predicting substantial gains ahead. 

“ETH is about to break out of its 4-year, 1,460-day range to the upside. Much higher, far beyond your worst nightmares,” Poseidon stated in his December 9 post.

This optimism follows Ether's recent climb above the $4,000 mark for the first time since March 2024.

Analysts have also noted that Ether's underperformance relative to Bitcoin (CRYPTO:BTC) may soon reverse. 

Benjamin Cowen from Into The Cryptoverse expressed confidence that the ETH/BTC ratio is nearing recovery and could rise over the next six to twelve months.

At the time of reporting, the Ethereum price was $3,864.91.