- Ethereum has rebounded from trendline support, with breakout targets above $3,200.
- 24-hour trading volume spiked 67.87%, signaling strong market interest.
- Vitalik Buterin proposes lightweight nodes to improve access and decentralization.
Ethereum (ETH) is currently trading at $2,621.04, an increase of 2.80%, with the 24-hour trading volume rising to $35.25 billion, a 67.87% surge. The week’s performance has seen a 1.58% rise, and the price has continued being strong above its short-term average.
According to well-known cryptocurrency analyst VipRoseTr, Ethereum has shown a clear bounce off a trendline level of support on the daily chart, which indicates a breakout possibility.
This trend line, constructed from lows in the past, remains a dynamic level of support. As the buyers intervene and drive the market price upward, chart construction indicates possible resistance levels at $2,853.49, $3,023.68, and $3,222.20.
These levels take their cues from Fibonacci levels and psychological boundaries, most notably the $3,000 level, which tends to create behavior from market participants.
The 50-day moving average remains below ETH’s trading price at present, supporting the bullish edge. Nevertheless, muted spikes in volumes suggest stronger momentum would be necessary if a breakout has to be confirmed and maintained through the resistance levels.
ETH price forecast for 2025 looks strong
Looking forward, DigitalCoinPrice predicts a bullish year for Ethereum in 2025. Having reached $3,715.17 in January, ETH temporarily fell below $2,999.31, a critical supporting test. Experts anticipate ETH may break above its former all-time high of $4,891.70 and possible spikes to $5,216.90 and even $5,715.69 by the end of the year.
Investors and market commentators attribute steady Ethereum’s layer-2 solution adoption and ecosystem expansion as key to this bullish argument. A successful retest of previous highs has the potential to set the stage for Ethereum as a stronger store of value and utility platform in the wider cryptocurrency market.
Ethereum scalability concerns
Ethereum’s scalability has raised concerns about centralization, particularly due to the increasing burden of running full nodes, which demand extensive storage and maintenance. In response, Ethereum co-founder Vitalik Buterin has introduced a proposal for “partially stateless nodes.” This system would allow users to operate lightweight versions that only track selected portions of the ETH state, such as specific apps or wallets, without storing the entire chain.
The plan features revisions to EIP-4444, a proposal demanding higher gas prices on high-storage transactions and decentralized data archival mechanisms. These enhance the usability of Ethereum and maintain the decentralized nature of the network as the network grows.