**Analyst Predicts Ethereum Could Reach $15,000 by 2025, Citing Bullish Technical Pattern**

Ethereum (ETH) could potentially hit an impressive $15,000 by 2025 according to a prediction by crypto analyst Elja. The forecast is based on technical analysis and the analyst asserts that the current bearish sentiment in the crypto market is temporary. Elja notes that Ethereum’s market pattern resembles a fractal pattern seen before its major price rally in 2021.

People tend to focus on immediate price movements, but Elja suggests that long-term observation is crucial for understanding the overall price pattern. Currently, Ethereum, like Bitcoin, is encountering challenges in breaking immediate resistance levels and is back at a critical support level of around $2,200.

Recent events, such as the approval of spot Bitcoin ETFs by the United States Securities and Exchange Commission (SEC), have had a negative impact on the altcoin market, including Ethereum. Grayscale Investments unloading thousands of coins behind Grayscale Bitcoin Trust (GBTC) has also contributed to the sell-off in Bitcoin and across the altcoin scene. However, Elja remains optimistic, viewing Ethereum’s consolidation as a positive sign amidst the recent downturn.

Elja also suggests that the current consolidation period may indicate the accumulation of positions by whales, potentially setting the stage for a price upsurge. Extrapolating from past price action, the analyst emphasizes a potential breakthrough to $5,000 and ultimately to $15,000 in the coming sessions.

Aside from technical factors, supporters of Ethereum point to the decreasing issuance rate and the network’s burning of thousands of ETH, which is reducing supply. Additionally, CEO of BlackRock, Larry Fink, is optimistic about Ethereum becoming the preferred network for tokenizing real-world assets (RWAs) in the future.

*Disclaimer: This article is solely for educational purposes and does not represent NewsBTC’s views on investment decisions.*

**FAQs**

1. **What is the basis for the prediction of Ethereum reaching $15,000?**
The prediction is based on technical analysis and the similarity of Ethereum’s market pattern to a fractal pattern that fueled its previous major price rally in 2021. Additionally, it takes into account the accumulation period during the current consolidation and the decreasing issuance rate of Ethereum.

2. **What recent events have impacted Ethereum’s price?**
The approval of spot Bitcoin ETFs by the SEC and Grayscale Investments unloading thousands of coins have contributed to the recent sell-off in Bitcoin and the broader altcoin market.

3. **What are the factors contributing to Ethereum’s potential long-term growth?**
Apart from technical indicators, the decreasing issuance rate of Ethereum and its burning of ETH to reduce supply, as well as the belief that it will become the chosen network for tokenizing real-world assets, are cited as factors contributing to Ethereum’s potential long-term growth.