Crypto experts predict a short-term dip for Ether before a significant rally, with a potential cycle top of $20,000 in 2025.

Ether Set for Short-Term Correction Amid Bitcoin Surge

Ether (ETH) has gained over 33% in the past month, trading above $3,368 as of 10:23 am UTC on Nov. 23. However, analysts warn that a correction could be on the horizon as Bitcoin (BTC) edges closer to breaching the $100,000 milestone.

Gracy Chen, CEO of Bitget, noted that Ether could face a temporary setback once Bitcoin hits its record high. “The market is already oversold, and a healthy correction might occur… Any potential retracement as soon as BTC breaches the $100,000 mark might impact Ethereum,” Chen said.

Analysts Predict Ether to Hit $20,000 in 2025

Despite a potential short-term dip, crypto analyst Wolf foresees Ether reaching a cycle top of $20,000 in 2025. In a Nov. 22 X post, he pointed to a three-year ascending triangle pattern forming on Ether’s chart.

“A measured move from the breakout of this massive triangle targets $20,000,” Wolf wrote, describing the formation as a bullish indicator for long-term growth.

Ethereum’s Utility to Drive Future Growth

While Ether has lagged behind Bitcoin’s recent rally—rising only 63% compared to Bitcoin’s 164% in the past year—Ethereum’s dominance as the leading smart contract blockchain is expected to fuel future price gains.

Gracy Chen highlighted Ethereum’s continued utility, stating, “[Ethereum] is still the most-used smart contract protocol by volume, with targeted upgrades enhancing its utility.” These factors, coupled with increased Ether acquisition, could help ETH reclaim its all-time high before the end of 2024, she added.

Post-Halving Momentum to Bolster Ether’s Rally

Ether’s price tends to show positive returns against Bitcoin in the first half of post-Bitcoin-halving years, according to ITC Crypto’s CEO Benjamin Cowen. This historical trend provides further optimism for a strong rally in early 2025 as the market looks towards Ethereum’s next major growth phase.