- Ethereum (ETH) price is up 7% in the last 24 hours, breaking above $2,000 to hit its highest mark since March 10, 2025.
- As ETH leads the top 10 cryptocurrencies by market cap on the day.
- Rekt Capital says fresh upside momentum could see it reclaim key support areas and target 95% rally to $3,900.
Ethereum price has the potential to rally by up to 95% if bulls reclaim $2,200, crypto analyst Rekt Capital says.
In his analysis shared on X as ETH traded higher, the key macro range that would open up for buyers is $2,196 to $3,900.
Ethereum price surges, reclaims $2,000 level
Per data from CoinMarketCap, Ethereum has changed hands in the range of $1,872 and $2,032. The 24-hour trading volume has also surged, up 34% to $13.9 billion.
While EOS, Hyperliquid and Ethereum Name Service have spiked double digits to rank as top gainers in the 100 largest coins by market cap, Ethereum’s 7% saw it lead the top 10 by market cap.
However, ETH remains nearly 27% down in the past month and has struggled since dipping below $4k in December 2024. But could a bounce be on for the top altcoin? The recovery seen in the past 24 hours, with a breakout above $1,950, has bulls’ appetite for more up.
Ethereum may not be out of the woods yet.
However, Rekt Capital is predicting a possible run to near the $4,000 mark. The analyst shared no timeline for the upward trajectory, and market conditions could derail buyers. Nonetheless, his forecast aligns with the projects Standard Chartered shared recently.
According to analysts at the banking giant, ETH will struggle to reach an earlier target of $10,000 – but $4,000 is achievable in 2025.
What next for Ethereum price?
In a post on X on March 19, popular crypto analyst Rekt Capital shared an ETH price outlook with his 542,000 followers.
Per the analyst, Ethereum price has recently declined to a level he calls “historical demand area”.
This area could offer a notable buying opportunity and be the catalyst that sends ETH as high as $3,900. If this happens, the bloodbath to under $2,200 will be a downside wick on the monthly chart.
“Ethereum has dropped into this historical demand area (light blue). If price can generate a strong enough reaction here, then #ETH will be able to reclaim the $2196-$3900 Macro Range (black),” he posted.
https://twitter.com/rektcapital/status/1902326393481896118
The chart he shared as the monthly candle red so far. Status quo with further consolidation will see ETH hit a fourth month in a row with a red candle. However, things could change with Ethereum price rallying.
Futures data supports a potential bullish setup, with Coinglass showing open interest change at +10.8% to $19.9 billion in the past 24 hours.
