Ethereum News Today: Ethereum Surges 45.48% in a Month, Hits $3,800

Ethereum has surged past $3,800 for the first time since December 2024, pushing its market capitalization over $450 billion. This marks the strongest price level for Ethereum in seven months, driven by a steady climb over the past week. The Altcoin Season Index has also risen to 47, up from 29 just last week, with the combined altcoin market cap now standing at $1.55 trillion. This surge in Ethereum's price has led to a month-on-month gain of 45.48%, solidifying its position as the second-largest cryptocurrency.

Gert Van Lagen, a Dutch analyst specializing in wave-based market structures, has suggested that Ethereum is entering the final stage of a long-term bull cycle. According to Van Lagen, Ethereum is currently in the fifth wave of a five-wave price cycle, as outlined by Elliott wave theory. This theory maps out price cycles shaped by crowd behavior, with the current cycle beginning in 2022. The early part of the cycle included a strong rally, followed by a correction, an extended rise, and a slow flat stretch. Ethereum is now in wave five, which typically features one last aggressive price run before the cycle resets.

Van Lagen's analysis indicates that Ethereum's latest climb forms "subwave a" of wave five. He expects a minor dip next to retest the breakout level, forming "subwave b," followed by a blow-off "subwave c" that could push prices well beyond current levels. Van Lagen sees $10,000 as a realistic endpoint for this entire wave sequence, stretching from 2019 through 2025. Ethereum's market cap currently stands at $441.14 billion, holding an 11.1% market share and sitting only behind Bitcoin.

Ethereum's recent performance has outpaced both Bitcoin and Solana, with some analysts predicting that it could test $4,000 in the short term if it maintains its position above $3,200. The optimism surrounding Ethereum is not isolated, as other altcoins such as XRP and Solana have also seen significant gains. This capital rotation into higher-beta plays suggests a broader shift in market dynamics, with altcoins poised to outperform as the crypto bull run enters its final phase. The weakening dominance of Bitcoin, accompanied by a surge in the liquid staking derivatives (LSD) narrative, indicates a growing interest in alternative investment strategies within the crypto market.

Ethereum's performance against Bitcoin (ETH/BTC) has shown resilience, bouncing off a multi-year demand area. This resilience, coupled with the ongoing transformation of the crypto market, signals that Ethereum is well-positioned to continue its bullish trend. Ethereum's recent rally has been impressive, with double-digit gains of 22% in the past week. Currently trading at around $3,581, Ethereum is facing a battle between its long-term bullish structure and medium-term resistance levels that have historically capped rallies. Despite these challenges, the overall sentiment remains bullish, with Ethereum aiming for key resistance levels. The Ethereum Fear and Greed Index, which studies price trends to determine market sentiment, also indicates a bullish trend, further supporting the notion that Ethereum is entering the final wave of its multi-year bull run.