According to crypto analyst Crypto Yoddha, Ethereum (ETH) may have finally reached its bottom. The analyst shared their insights on X, suggesting that the second-largest cryptocurrency by market cap could be on the verge of a trend reversal.

Is The Ethereum Bottom Finally In?

Crypto Yoddha shared a 10-day ETH chart indicating that the digital asset has likely bottomed for this cycle. To support this analysis, the analyst highlighted striking similarities between ETH’s current price behavior and its movement during the 2019–2020 cycle.

According to the analyst, Ethereum followed a similar price structure in its previous cycle before embarking on a bullish rally that surged 2,500%. The chart also suggests the completion of a WXY correction pattern from Elliott Wave Theory, a three-wave corrective structure that often precedes trend reversals.

For the uninitiated, The WXY corrective pattern in Elliott Wave Theory is a three-wave correction where W and Y are corrective moves, and X connects them. It’s a more complex version of an ABC correction, making price movements last longer before the trend continues.

The analyst further emphasized that breaking the $4,600 resistance level is crucial for ETH to sustain its bullish momentum. If ETH clears this hurdle, it could replicate its previous cycle’s trajectory, potentially rallying to $10,000–$13,000.

Crypto Yoddha’s sentiments were echoed by fellow crypto trader Mister Crypto. The analyst shared the following chart, saying that ETH has bottomed and a ‘big reversal’ is likely to happen soon.

ETH Price Mirroring Its Previous Market Cycle

A group of seasoned crypto traders, Shuarix, also weighed in on ETH’s price behavior. They compared ETH’s current structure to its 2020 price action during the COVID-induced market crash.

According to Shuarix, ETH recently experienced a false breakout from a symmetrical triangle pattern, followed by a major pullback. They believe this setup could lead to a strong rally, as the market shakes out so-called “weak hands.”

They added that bearish sentiment surrounding ETH currently is at a level not seen since the year 2020. Indeed, on-chain data reveals that so-called ‘ETH whales’ – wallets with substantial ETH holdings – are starting to lose faith in the digital asset.

Besides the large investors showing diminishing trust in ETH, the Ethereum staking percentage has also crashed from the highs of November 2024. At press time, ETH trades at $2,644, down 3.5% in the past 24 hours.

Featured Image from Unsplash.com, charts from X and TradingView.com

Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part – in fact, far from it.

Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.

When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix.

Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books – ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.
Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that.

Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings.

Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time – he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better.

Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon – cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment – spreading the crypto gospel to the rest of the world.

The crypto market is subject to a neutral market sentiment even as the bulls remain in control. Subsequently, majors like Ripple and Ethereum are range-bound while their steady fundamentals support the prices. 

On the other hand, more savvy investors are shifting their focus to meme crypto projects with the potential to revolutionize the industry. One such entity is Bitcoin Pepe.

In fact, it is presented as the missing puzzle piece in the Bitcoin network. Through its mission of building “Solana on Bitcoin”, it is creating a platform defined by low fees, speedy transactions, and the ability to launch meme coins on the most steady crypto network. Notably, investors have an opportunity to rake in hefty returns within a relatively short period.

Ripple lacks enough momentum for a weekly gain despite steady fundamentals

Ripple price has held steady above the crucial support zone of $2.5000 even as it lacked enough buyers to lock in the second weekly gain in a row. On the one hand, a neutral market sentiment in the broader crypto sector has pushed buyers to the sidelines. Even so, the bulls remain in control as XRP ETFs and heightened global adoption is set to bolster the crypto to January levels.

In the near term, the bulls are striving to break the resistance at $2.7385. Past that level, the next target will be at $2.9100. On the lower side, a pullback past $2.5000 will still have the bulls in control as $2.3357 remains a steady support level. 

Bitcoin Pepe: The missing puzzle on Bitcoin’s network

Bitcoin, the leading cryptocurrency, began with no intrinsic value about 15 years ago and has since grown to a market cap of $1.9 trillion at $96,278. Bitcoin Pepe has emerged as a project whose mission is to revolutionize the BTC network by transforming it into a meme coin hub. 

This explains why an overwhelming number of savvy investors are rushing to amass BPEP tokens ahead of its listing in Q2’25. Besides, President Trump has made clear his intentions to foster a pro-crypto environment. 

Subsequently, Bitcoin Pepe has become so popular that within the first 24 hours of its presale launch, it raised over $1 million. 11 days later, it has already reached stage 5 of the total 30 stages; raising over $2.8 million. 

With 25 more stages before it hits the public shelves, early adopters have an apt opportunity to buy BPEP tokens at the current price of $0.0255 and watch their investment yield hefty returns. By the end of the presale, the token price is set to have increased by a total of 311.4% to $0.0864. Read more on how to buy Bitcoin Pepe.

Ethereum price analysis: Neutral outlook with a bullish bias  

Ethereum price recorded its second week of gains after plunging to a 5-month low earlier in February. Even so, it continues to trade below the 25 and 50-day EMAs. In the absence of a key immediate-term bullish catalyst, the crypto may remain under pressure for a while longer. 

At its current level, the range between $2,543 and $2,804 is still worth watching. If successful at breaking the resistance along the range’s upper limit, the bulls will have a chance to retest the crucial support-turn-resistance zone of 2,950. However, a decline past $2,500 will invalidate this thesis.