Ethereum News Today: Ethereum Surges 97% Since Q1 2025 Low, Eyes $4,000

Ethereum (ETH), the pioneer altcoin, has recently surpassed the $3,422 price level, marking a significant milestone in its price trajectory. This surge has sparked optimism among analysts, who have set their next bull targets for ETH at $3,980 and $4,000. The price of ETH has been on a steady upward trend, with many analysts predicting that the altcoin is poised to reclaim its previous all-time high (ATH) in the $4,800 price range.

The debate over whether Bitcoin (BTC) has reached its peak for this bull cycle has intensified since BTC hit its ATH at $123,000. Some analysts believe that ETH will soon move towards its next ATH target, set at $130,000 for BTC. However, others argue that the time for altcoins to flourish has arrived, with several bullish signs indicating that an altseason is imminent. One of the key indicators is the steady rise in the price of ETH, which many believe is a prerequisite for an altseason to begin.

Currently, ETH is trading at around $3,340, just a short surge away from its recent high of $3,422.60. This steady increase in ETH's price is seen as a bullish sign, suggesting that the altcoin is on its way to reclaiming its previous ATH. ETH bottomed out in Q1 of 2025 at $1,700 and surged to $2,700 in Q2. With this momentum, it is possible that ETH could hit a new ATH in Q3.

Another bullish indicator for ETH and other altcoins is the declining Bitcoin Dominance. Analysts have noted that there are several signs pointing to a gradual shift in ETH and altcoin dominance. This shift could lead to a significant fall in Bitcoin Dominance, although it does not rule out the possibility of another ATH for BTC. Analysts have identified a key resistance level for ETH at $3,980, and a break above this level could ignite a major bull rally. Additionally, one analyst highlighted that ETH's breakout above the MA50 on the weekly chart has resulted in a 28% increase in its price, with no signs of weakness yet. This analyst expects higher targets towards $4,000 in the coming weeks.