Ethereum Surges Past $3,000, Bulls Eye $15K to $30K Targets

NEW YORK, NY – Ethereum made headlines Wednesday as its price rose 6%, surpassing the $3,000 mark for the first time since February 1. Ether is now trading at $3,170, fueling bullish anticipation among traders who speculate that prices could soar between $15,000 and $30,000 this market cycle.

The surge coincided with a record open interest in Ether futures, which reached $46.58 billion on Wednesday. This figure indicates a growing interest in the market and confidence among traders. Open interest has climbed 64% since June 22, showing an influx of new capital into ETH contracts. Just three months earlier, on April 17, Ether’s open interest was only $17.95 billion when its price was $1,600.

“Holding $3,000 is key to ETH’s upside potential,” noted Cointelegraph in a recent analysis, highlighting that maintaining this price level could set the stage for a potential rally towards $18,000. The Ethereum network has also seen a significant increase in activity, with transaction fees rising by 109% to $12.40 million in the past week, according to data from Nansen.

Pseudonymous trader DeFi Dad expressed heightened expectations, stating, “I’ve completely readjusted my expectations for $ETH this run to top out between $15K-$30K.” He noted, “I am buying and holding ETH, believing we can run at minimum to $15K-$18K.”

Crypto investor John K. Davies remains optimistic about Ethereum’s future, predicting it could outperform Bitcoin in the latter half of 2025 and reach $6,000 before 2026. “The forecast is extremely conservative, and I certainly believe it could be much higher,” he stated, potentially exceeding $10,000 by Q2 2026.

Chartist Crypto GEMs pointed out a pattern suggesting that Ether could mirror its impressive performance from the 2016-2017 market cycle. From April’s low of $1,400, Ether could achieve a parabolic run of 330%, leading to prices around $6,000.

As the market remains bullish, many traders are keeping a close eye on the immediate target of $4,000. Mister Crypto, a noted analyst and trader, declared, “$4,000 is imminent! We are about to get rich!” as optimism continues to build around the cryptocurrency.

This reporting does not constitute investment advice. Investors should conduct their own research before making financial decisions.