On Friday, ETH touched $2,450 for the first time in 6 months, buoyed by the explosive price action it has exhibited over the past few days. While the digital asset is up more than 30 percent over the past week, some analysts predict that ETH could hit as much as $12,000 in the next 3 years.
Analyst says Ethereum mirroring Bitcoin’s rally
In a Friday X post, crypto market commentator Ted Pillows said that ETH is showing an uncanny resemblance to BTC’s last bull market rally. In his analysis, Pillows overlaid BTC’s performance from the 2021-25 period on ETH’s weekly chart.
During the aforementioned 4 years, BTC saw see-sawing price action – first dropping by about 77.57 percent, followed by an enormous rally to the tune of 716 percent. In the same period, ETH has, until now, declined by about 69.5 percent.
If ETH ends up replicating BTC’s price action, then the second-largest cryptocurrency by reported market cap could soon post gains of 720 percent, propelling it all the way to $12,000 in the long-term.
While on the surface, ETH’s $12,000 price target may sound extremely optimistic, it cannot be entirely ruled out. As of Friday, ETH is trading at $2,453, about 50 percent below its all-time high of $4,946 recorded in August 2025.
Pillows isn’t the only one bullish on ETH. In a separate X post, crypto trader Ray said that ETH is preparing for a “historical move.” According to Ray, ETH’s first target is $4,900 which will be hit in the coming weeks.
After hitting $4,900, it will be open skies for ETH as it will enter price discovery territory. However, ETH bulls would want to keep their expectations in check given the volatile nature of the digital assets market.
All depends on ETH/BTC trading pair
The ETH/BTC trading pair – a key ratio that’s keenly watched to gauge investor’s risk appetite in the prevailing conditions – is piquing interest once again. In an X post, crypto analyst KALEO brought attention to this trading pair.
As highlighted by the analyst, once ETH/BTC reaches 0.08, the crypto market can expect to see first signs of a full-blown altcoin season. However, ETH must hold its own against BTC, and not lose ground.
