Ethereum (ETH) held a strong rally this July, making it one of the most performant months for the world's second largest cryptocurrency. After recently touching on the $3,500 level, many investors are now wondering how high ETH will actually be in this cycle.
Looking at the Ethereum charts, the last ever-along high returned to around $4,900 in November 2021. Now, ETH is once again approaching significant resistance levels, especially $3,650 and $4,000. If you break through these zones, analysts say a push to the previous high is very likely.
Ethereum forms what is called the “reverse cup and handle.” This is a bullish formation that led to major price breakouts in other assets such as Bitcoin and Gold. If ETH follows this pattern, breakouts can ultimately target over $10,000, with ambitious forecasts to support a long-term goal of $15,000 by 2026.
Key points of resistance going forward include $3,800, $4,000, and the previous top $4,900-$5,000. Beyond that, if the breakout is strong, $10,000 could be a realistic goal in the second half of 2025 or early 2026.
Market conditions also seem to be good. Global liquidity is rising, interest rates are expected to fall, Bitcoin's dominance is slightly declining, with all the good signs of Ethereum. This may be an ETH glow moment, as Altcoins usually follow the lead of Bitcoin.
In the short term, some pullbacks or integrations can occur as they approach resistance levels. But overall, analysts remain bullish. Many traders choose to stay at Ethereum for longer, hoping that the bests haven't come yet. If ETH continues its upward trend, the road to $10K may not be that far in the end.
