Ethereum recorded a significant rally with a 21% increase following the election results in the US, surpassing the $2,800 resistance level after a 96-day consolidation period. Analysts note that Ether is exhibiting a bullish pattern similar to early 2024, having broken above descending trendlines and accumulated above critical EMA levels. If this trend continues, Ethereum could see prices reaching between $6,000 and $6,500 by Q1 2025. Moreover, Ethereum ETFs have seen a $132 million inflow recently, reversing earlier outflows as institutional interest grows. Henrique Centieiro, a venture capitalist, suggests that Ethereum is entering ‘scarcity mode,’ fueled by a supply crunch, as a high percentage of ETH is locked in staking contracts while exchange reserves hit record lows. This scenario sets the stage for potential significant gains for investors in the long term.

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