Ethereum Climbs Toward Record as Market Eyes Breakout

• Ethereum nears record high as investors eye potential breakout soon.
• Vivek Raman envisions Ethereum powering global transactions and economies.
• Political climate boosts crypto optimism amid Ethereum’s accelerating price surge.

Ethereum is trading close to its all-time high, with prices hovering near $4,729 and just 3% away from the $4,891 peak. The currency has appreciated by more than 80 percent in the last year, supported by investor trust and increasing use of blockchain.

According to BitMine chairman Tom Lee, the bullish momentum has prompted a revised price target from $10,000 to $16,000. Etherealize CEO Vivek Raman sees an even greater prospect, a vision of Ethereum as an underlying layer of global financial and non-financial systems. He refers to it as digital oil that can be used to fuel international transactions and whose long-term value is pegged at $80,000 per coin.

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Analysts Track Resistance Levels as Institutional Interest Grows

Raman argues that the market undervalues Ethereum due to past events, such as the FTX collapse and prior underperformance. In his opinion, Ethereum will gain much more importance as the settlement network of emerging digital economies.

Already, some Bitcoin mining firms have moved to Ethereum and become ETH-based treasury companies. Such a shift indicates an increasing sense that Ethereum will be as influential, or even more influential, than Bitcoin. The NFT market provides a good example of the robustness of the Ethereum ecosystem, as the recent surge has increased trading volume in digital collectibles.

According to market analysts, Ethereum’s next test is a short-term price target area between $4,762 and $5,121. Clearing this range may confirm a breakout and result in new price discovery. Support lies at the range of $4,473 to $4,631, with stability higher than this range sustaining the existing uptrend.

Political Environment Adds to Momentum

The rally comes as the United States faces a surprisingly crypto-friendly political backdrop. Recent actions by President Donald Trump, which could be seen as favorable to the wider digital asset industry, have further boosted the encouraging mood.

If Ethereum maintains its trajectory, analysts suggest it could set a new record soon and extend gains into higher valuation ranges. Institutional adoption, the development of use cases, and favorable policy signals are coming together to set up conditions for further upward momentum.

Also Read: Analyst Points Out Disturbing Pattern in Key XRP Metrics – Should You Be Worried?

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