The Ethereum price is drawing attention to its potential future outlook, as a crypto pundit points to a striking resemblance between the altcoin’s price action and Bitcoin’s during the 2015-2017 bull cycle. The analyst’s technical chart analysis suggests that ETH is destined for a breakout to $10,000 this cycle, marking new all-time highs. 

Ethereum Price Chart Mirror’s Bitcoin Historic Breakout

According to Ted Pillows, a crypto pundit on X (formerly Twitter), a comparative analysis of Etheruem’s current price movement and that of Bitcoin during a previous bull cycle highlights a familiar bullish pattern. Based on this past trend, the analyst confidently predicts that Ethereum will hit $10,000 this cycle. 

Between the bull market in 2015 and 2017, the Bitcoin price hit a bear market bottom between $201 and $205. After experiencing a bit of consolidation and volatility, the cryptocurrency eventually skyrocketed to a historic rally towards $685 and $785, marking new ATHs at the time. This massive surge occurred after Bitcoin broke out of resistance levels around the $465 threshold. 

Based on the Pillows’ hypothesis, Ethereum appears to be following a similar trajectory, having completed its accumulation phase and recently breaking through major resistance levels. The number one altcoin has also experienced significant volatility recently, struggling to recover from previous bearish trends and market sell offs that pushed its value below the $3,000 price high. 

While still in consolidation, as no strong surge has been recorded in the Ethereum price recently, Pillows highlights factors that could reinforce the altcoin’s bullish outlook. The analyst mentioned Ethereum’s Total Value Locked (TVL) and Stablecoin liquidity dominance. Currently, ETH leads in DeFi, securing the highest TVL across all platforms in the space. 

Pillows also highlighted the impact of institutional demand and accumulation. As these factors increase, Ethereum could gain more exposure, potentially boosting its long-term value. Lastly, the analyst mentioned that Ethereum currently has a lower inflation rate than Bitcoin and 99% of the altcoins in the market. 

Based on these seemingly bullish factors, Pillows urges investors and traders to set their sights higher, dismissing a $5,000 target as too conservative and advocating for a more ambitious $10,000 projection. 

ETH Whales Get Back In Action

While analysts share their optimistic projections about Ethereum’s future outlook, whales are getting in on the ground floor and buying ETH tokens in droves. While the recent decline in the price of ETH may have caused panic selling for some, deep-pocketed investors have taken the market crash as an opportunity to accumulate.

According to TradeerPA, a crypto analyst on X, new reports show that ETH has been getting rapidly accumulated by Ethereum whales. Due to this accumulation trend, the analyst advocates for a price rally to new ATHs, driven by a positive shift in market sentiment and increased demand.

Featured image from Adobe Stock, chart from Tradingview.com

Ethereum has experienced a prolonged consolidation below key resistance levels, struggling to find momentum as it continues to trade sideways. The price has been closing between $2,650 and $2,750 for the past week, creating uncertainty in the short term. With ETH facing selling pressure and unable to reclaim the $2,800 mark, investors are growing concerned about its ability to recover.

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Despite the recent choppy price action, some analysts believe Ethereum could be gearing up for a bullish move. Crypto expert Carl Runefelt shared a technical analysis on X, stating that Ethereum has been forming a bullish pattern on the daily time frame. If this pattern plays out, ETH could see a strong breakout in the coming days.

Ethereum is holding at crucial demand levels, making the next move critical for its short-term direction. If buyers step in and reclaim the $2,800 level, it could signal a trend reversal and open the door for a rally above $3,000. However, failure to hold support could lead to further downside, increasing selling pressure. With uncertainty looming, traders are closely watching ETH’s price action for confirmation of its next move.

Ethereum Consolidation Continues

Ethereum investors are trying to stay calm amid ongoing volatility, but fear continues to grow that ETH could see further downside if it fails to reclaim key levels. The price remains stuck in a tight range, trading between crucial liquidity levels of short-term demand and supply. Market sentiment is divided—some investors anticipate a deeper correction and prolonged consolidation, while others believe Ethereum is on the verge of a recovery rally.

Runefelt’s analysis on X states that Ethereum is forming a symmetrical triangle pattern and could break out “any hour now.” According to Runefelt, the target for this potential breakout is $3,055, a level that could serve as a turning point for ETH’s short-term trend. However, Ethereum must first reclaim the $2,800 mark and hold above it to confirm the start of a recovery phase.

If Ethereum successfully breaks above this resistance, it could trigger a strong rally, pushing prices back toward the $3,000 level. On the other hand, failure to hold support could lead to another wave of selling pressure. With uncertainty looming, all eyes are on ETH as traders await confirmation of its next major move.

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With Ethereum trading at a critical juncture, the coming days will be crucial in determining its short-term direction. If bulls sustain momentum and push the price above key resistance levels, confidence in a recovery rally will grow.

Price Testing Short-Term Supply

Ethereum is trading at $2,750 after nearly two weeks of struggling to reclaim the $2,700 level. While bulls have held above key support levels, ETH remains stuck below crucial resistance, making price direction uncertain. The most critical level that bulls must reclaim is the $2,800 mark, which has acted as a strong supply zone for weeks.

If Ethereum closes above the $2,800 level and holds above it, bullish momentum could build up, leading to a breakout. The next major target would be the 200-day Moving Average, which sits around $2,930. A push above this moving average would signal strength and open the door for ETH to test the $3,000 mark.

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However, if ETH fails to break above $2,800 and faces rejection, the market could see renewed selling pressure. This scenario would likely send ETH back toward the $2,600 level, testing lower demand zones. With Ethereum trading in a tightening range, a breakout or breakdown seems imminent. Bulls need to step up and reclaim lost ground quickly, or bears may take control and push ETH into lower price levels. The next few daily closes will be crucial in determining Ethereum’s short-term direction.

Featured image from Dall-E, chart from TradingView

Ethereum has been closing between $2,650 and $2,750 for the past week, creating uncertainty in the short term as bulls struggle to reclaim higher levels. ETH is trading at crucial demand zones, facing sustained selling pressure that has kept it below the $2,800 mark. Investors are trying to stay calm amid the volatility, but fear is creeping in as Ethereum continues to show weakness, raising concerns that a deeper correction could follow.

However, on-chain data suggests that big players are taking advantage of the recent downturn. Crucial data from Santiment reveals that whales have accumulated 430,000 Ethereum in the last 72 hours. This buying spree adds to the broader trend of large investors accumulating ETH during recent price corrections. Historically, whale accumulation at key demand levels has often preceded strong price rebounds, providing hope for a potential recovery.

Despite short-term uncertainty, Ethereum’s long-term outlook remains promising if it can hold current support levels and reclaim the $2,800 mark. Investors will closely watch whether the recent whale accumulation translates into upward momentum or if ETH will face continued downward pressure in the coming days. The next move will be crucial in determining Ethereum’s direction in this volatile market.

Ethereum Accumulation Continues Amid Uncertainty

Ethereum has experienced a prolonged consolidation below key levels, continuing to trade sideways with no clear direction. Uncertainty dominates the market, as price action remains indecisive, keeping investors on edge. Bulls have struggled to reclaim the $2,800 level, while bears have failed to push ETH into lower demand zones. This ongoing battle between buyers and sellers has created a tight trading range, with Ethereum lacking the momentum needed for a decisive move.

Despite the short-term weakness, on-chain data suggests that large investors are actively accumulating ETH. Whales have been consistently buying Ethereum since it dropped below $3,000 over two weeks ago, positioning themselves for the next phase.

Crypto analyst Ali Martinez shared key data from Santiment on X, revealing that whales have accumulated 430,000 Ethereum in the last 72 hours. This suggests that institutional and large-scale investors are seeing the current price levels as an opportunity, expecting a potential rally in the near future.

As long as Ethereum continues to trade below $3,000, this accumulation trend could persist. If ETH manages to reclaim the $2,800 level and break above $3,000, a strong bullish breakout could follow. However, failure to hold current support levels may lead to further selling pressure, making the coming days crucial for Ethereum’s next big move.

ETH Price Consolidates Below Crucial Supply

Ethereum is trading at $2,740, struggling to break above this key level since early February. The price remains range-bound, fluctuating between $2,550 and $2,850, creating uncertainty among investors. This prolonged sideways movement signals that ETH is building up for a decisive move, with a breakout or breakdown expected soon.

If bulls manage to reclaim the $2,800 mark and hold it as support, Ethereum could gain momentum and push above $3,000, triggering a rally into higher supply zones. The $3,000 level remains a psychological barrier, and breaking above it would signal renewed bullish momentum.

On the other hand, if ETH fails to sustain current support and drops below $2,600, further downside could follow. A breakdown at this level could open the door for a deeper correction into lower demand zones, potentially bringing ETH back to levels last seen in late 2023.

With Ethereum consolidating for weeks, traders are closely watching for confirmation of the next move. Whether ETH breaks above resistance or dips into lower demand, the coming days will be crucial in determining the short-term direction of the second-largest cryptocurrency.

Featured image from Dall-E, chart from TradingView