The Ethereum price has recently demonstrated significant momentum, leading the <\/span>altcoin market<\/span><\/a> with a significant 13% increase over the past week. This surge has brought the cryptocurrency close to its all-time high, prompting a new wave of bullish predictions.<\/span><\/p>\n Market analyst Mags on social media platform X (formerly Twitter), <\/span>highlighted <\/span><\/a>a key milestone for the Ethereum price: after 1,146 days of price consolidation, the market\u2019s second-largest cryptocurrency finally broke through the critical $4,000 level.\u00a0<\/span><\/p>\n Historically, Ethereum made three attempts to surpass this threshold, encountering setbacks each time. However, in August, the fourth attempt proved successful, and the token has been consolidating above the $4,000 mark for several months.<\/span><\/p>\n While there was a momentary setback when the price dipped to $3,800, <\/span>bullish sentiment <\/span><\/a>quickly returned, pushing the Ethereum price back above the $4,000 level and initiating a robust V-shaped recovery.\u00a0<\/span><\/p>\n This technical pattern, according to the analyst, is highly bullish for the leading altcoin, with Mags suggesting that the next upward leg could target a new record price for ETH of $7,331, also aligning with the 1.618 Fibonacci extension level.<\/span><\/p>\n Macroeconomic factors also play a significant role in Ethereum\u2019s potential for further gains. Analysts at CryptoQuant <\/span>note <\/span><\/a>that the US M2 money supply has entered a renewed expansion phase, hitting a record high of approximately $22.2 trillion.\u00a0<\/span><\/p>\n Bitcoin (BTC) was the first to reflect this increase, soaring by over 130% since 2022 and showing a strong correlation with M2 growth of around 0.9. By contrast, the Ethereum price performance has lagged behind, rising by just around 15% during the same period, a phenomenon dubbed \u201cliquidity lag\u201d by the analysts.<\/span><\/p>\n However, on-chain data compiled by CryptoQuant indicates that this gap may be narrowing. Notably, Ethereum\u2019s <\/span>exchange reserves<\/span><\/a> have decreased to roughly 16.1 million ETH, a drop of more than 25% since 2022.\u00a0<\/span><\/p>\n This suggests a structural decline in selling pressure, as netflows to exchanges remain consistently negative, indicating that ETH is being withdrawn for self-custody. Additionally, the Coinbase Premium Index has turned positive, signaling renewed interest from US institutional investors.<\/span><\/p>\nAnalysts Forecast Further Gains<\/span><\/h2>\n
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Potential Ethereum Price Surge To $10,000<\/span><\/h2>\n
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