Ethereum hits price milestone, heads towards new all-time high

In a recent development, the Ethereum has reached a price milestone and is now heading towards a new all-time high (ATH). Yesterday, the second-largest cryptocurrency on the market surpassed the $4.000 mark, which brought ETH closer to breaking its record price of $4.878,26, set in November 2021. The $4 mark was reached by the asset for the first time since March.

Amid the positive scenario, a cryptocurrency expert noted in a technical analysis on Ethereum that the cryptocurrency may be on track to reach new all-time highs in its price soon.

Cryptocurrency trader Pentoshi highlighted in an analysis on X Platform on Dec. 6 that Ethereum may be poised to experience a fresh price surge as demand for spot ETH exchange-traded funds (ETFs) grows.

“$eth new yearly highs on deck. We did it. You won’t believe what hopefully comes next, but turn down that leverage, young man,” wrote . “$eth now at 4k Yearly Highs to follow. We discussed the early ETF changes and now the accelerated pace. No reason to think we won’t see ATHs and perhaps beyond. If this pace continues for inflows it won’t be long,” he said in an analysis recent .

Ethereum has seen an impressive price rally in recent days, fueled by a new dynamic around Ethereum ETFs. On December 5, Ethereum ETFs saw inflows of $428,5 million, marking a significant milestone by surpassing the previous record of $332,9 million set on November 29.

At the time of publication, the Ethereum price is trading at $4.005,03, up 4.0% in the last 24 hours. In comparison, the current price is 18,02% lower than its all-time high. In its weekly development, the Ethereum price has seen an increase of almost 9%.