Is Ethereum ‘Most Hated Rally’ About To Begin? Analyst Finds Bitcoin Cycle Similarities
Ethereum (ETH) could be on the verge of a major breakthrough after relatively soft price performance in 2024. A recent analysis by a well-known crypto analyst suggests that the second-largest digital asset may soon enter what they call the “most annoying rally.”
Finally, is Ethereum’s time shining?
Ethereum has been working hard to recover momentum since its all-time high (ATH) in November 2021 hit $4,878, while other cryptocurrencies such as Solana (Sol), SOI, SUI and XRP have been given to investors It brought considerable returns.
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Currently, ETH is trading at $2,649, just 5.5% higher than the price a year ago. In stark contrast, XRP soared 365% during the same period. Even Bitcoin (BTC), despite its larger market cap, has grown at 100% over the past year.
As a result, investors’ confidence in ETH appears to be decreasing. Recent chain analysis instruct That ETH “whale” (wallet with a large amount of ETH holding) keeps uninstalling even a loss.
However, this trend may change dramatically. Crypto analyst Titan said Ethereum’s “most annoying rally” could be approaching.
The analyst has similarities between Ethereum’s current price action and Bitcoin’s behavior in the third market cycle between 2018 and 2020. illustrate There are amazing similarities between these two assets.
According to analysis, Ethereum is currently in the so-called “manipulation stage”. If history repeats itself, once the “re-energy restoration phase” is decisively broken through, ETH may enter the “acceleration phase”.
It is worth noting that the chart also highlights the rejection range ETH faces at a critical resistance level of about $4,000, exactly three times – reflecting Bitcoin’s behavior in its third market cycle and then eventually bursting out. .
Similarly, another crypto analyst, TED, compared the price list of Ethereum with the price list of XRP. he notes The XRP has remained in the integration phase for nearly three years, with little price transfer, increasing by 250% in just five weeks.
Bullish Ethereum logo
Despite hedging funds Keep Analysts are optimistic in a shorter position on ETH due to its recent low-price performance, so 2025 will bring joy to Eth Bulls.
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For example, the latest analysis by crypto analyst Kiu_coin suggestion The ETH is on the cusp of an explosive price rally and may send it to $17,000. other Report The price of ETH, published in January 2025, will climb to $8,000, outperforming BTC.
Another sign of growing confidence in Ethereum is that capital inflows have increased Ethereum Exchange Funds (ETFs) in recent weeks, surpassing Bitcoin ETFs. This trend instruct Updated optimism and possibly spinning toward ETH. At press time, ETH was trading at $2,649, down 1.1% in the past 24 hours.
Featured images from Unsplash, charts from X and TradingView.com
