Ethereum (ETH) has surged from $3,050 to $3,400 in less than three days, igniting fresh optimism among investors who believe ETH is poised for significant gains this year. After weeks of uncertainty and selling pressure, Ethereum’s latest price action has renewed bullish sentiment, with analysts predicting further upside.

Key on-chain metrics from IntoTheBlock support this outlook, revealing that Ethereum has an average holding time of 2.4 years, signaling strong confidence from long-term holders. This data suggests that despite short-term volatility, Ethereum investors remain committed, reinforcing the idea that ETH could see a sustained rally as market conditions improve.

With bullish momentum building, all eyes are now on critical resistance levels, which, if broken, could push Ethereum toward multi-month highs. However, investors remain cautious, as Ethereum still needs to reclaim its previous all-time highs to fully confirm a new bullish phase. The coming weeks will be crucial in determining whether ETH can maintain its uptrend and outperform the broader market in 2024.

Ethereum Faces Uncertainty But LTHs Show Confidence

Ethereum has been in a persistent downtrend since late December, with its price falling over 28% from local highs of $4,100. Compared to Bitcoin’s performance, ETH has underwhelmed investors, leading to speculation that 2024 could be another “bad year” for the second-largest cryptocurrency.

Despite these concerns, on-chain data from IntoTheBlock suggests a different outlook. Metrics reveal that Ethereum’s average holding time is 2.4 years, highlighting strong confidence from long-term holders. This indicates that despite the current price struggles, ETH investors continue to accumulate and hold, anticipating future gains.

However, Ethereum’s growth potential appears somewhat tempered as Layer 2 solutions (L2s) and alternative Layer 1 (L1) blockchains continue to fragment attention and adoption. Newer investors and developers are exploring competing ecosystems, leading to a lack of fresh short-term participants in ETH’s network. This shift has created uncertainty around whether ETH can maintain its dominant position in the altcoin space.

The coming weeks will be crucial for ETH, as February has historically been a bullish month for the asset. If Ethereum can reclaim key resistance levels and attract new demand, a reversal could be on the horizon, offering investors renewed confidence in its long-term potential.

ETH Price Outlook: Key Levels To Watch

Ethereum (ETH) is currently trading at $3,320 after a volatile Friday that saw the price surge to $3,448 before retracing below $3,300. Despite the price swings, ETH looks strong and poised to break out of its downtrend.

If bulls can hold above the $3,300 mark and push past $3,500 over the weekend, ETH could enter a massive rally toward the $4,000 level. This would signal a trend reversal, attracting fresh demand and reigniting investor confidence.

However, the risk of further consolidation or even a correction remains. If ETH fails to maintain current support levels, it could lead to increased selling pressure, pushing the price back to test lower demand zones. Losing the $3,200 mark would indicate weakness, potentially delaying Ethereum’s bullish breakout.

For now, ETH remains at a critical juncture, with investors watching closely to see whether bulls can sustain momentum and reclaim key resistance levels. The weekend price action will be pivotal in determining Ethereum’s next major move, setting the tone for the coming weeks.

Featured image from Dall-E, chart from TradingView

The Ethereum price performance was quite disappointing in the final weeks of 2024, struggling beneath the $3,500 level. This end-of-the-year blues somewhat flowed into the altcoin’s action in the first month of 2025, as it failed to build any serious momentum in the first 30 days of the year.

Unsurprisingly, this sluggish price action has led to the panic of several Ethereum investors, with a portion of the market pondering if to sell their tokens. A popular crypto analyst on the social media platform X has come forward with an in-depth analysis of the ETH price over the next few months.

What Does The Future Hold For ETH Price?

In a Jan. 31 post on X, crypto pundit Ali Martinez tried to answer the “Is it time to sell Ethereum and move on?” question while breaking down its recent price action and on-chain movement. According to the analyst, the future looks somewhat bleak for the price of ETH, as it stands at the risk of a deep correction in the short term.

This is based on the MVRV Ratio (160-day moving average), which tracks the ratio between a coin’s market cap and the realized cap. It helps to evaluate whether a cryptocurrency (Ethereum, in this scenario) is overvalued. According to Martinez, the ETH price recently fell beneath the MVRV (160D-MA), an occurrence that led to a 40% correction the last time.

Source: Ali_charts/X

The potential of a severe price pullback has resulted in a shift in investor sentiment, with a particular investor cohort showing some level of anxiety in the market. Data from Glassnode shows that long-term Ethereum holders are beginning to sell off some of their coins, strengthening the odds of a price correction.

In the case of a correction, certain on-chain price levels could be crucial to the long-term health of the ETH price. One such price region is between $2,230 and $2,610 (where nearly 12 million wallets bought 62.27 million ETH), which could act as a major support zone against further decline.

From a technical price analysis standpoint, the ETH price appears to be forming an inverse head-and-shoulders pattern, with a major support level between $2,800 and $3,000. According to Martinez, the Ethereum price could make a play for the pattern’s neckline at $4,000 if this support region holds.

Source: Ali_charts/X

While the $4,000 level has acted as a major resistance level for four years, recent whale accumulation increases the Ethereum price’s chances of breaking this crucial region. The latest on-chain data shows that whales bought over 100,000 ETH (worth over $340 million) in the past few days.

Martinez noted that if the Ethereum price successfully breaks above the $4,000 mark, it could travel as high as $6,770 based on the MVRV pricing bands. This would represent an over 100% rally from the current price point.

Ethereum Price At A Glance

As of this writing, the price of Ethereum stands at around $3,315, reflecting over 2% jump in the past 24 hours.

The Ethereum price loses the $3,300 level on the daily timeframe | Source: ETHUSDT chart on TradingView

Featured image from iStock, chart from TradingView

Ethereum is still showing signs of upward momentum if you know where to look. The leading altcoin is now in a bullish expansion phase, with analysts predicting that its price could surge past key resistance levels in the coming weeks. According to crypto analyst Ted Pillows, Ethereum has entered a bullish expansion phase and is on the verge of a major rally that could push it beyond $4,000 in the short term and to new all-time highs by March.

Bullish Expansion Puts Ethereum At $4,500 In February

According to Ted, Ethereum has transitioned into its expansion phase after completing two preceding phases of accumulation and manipulation. These phases were mapped out on the 3-hour candlestick timeframe and unfolded in the last two weeks of January. 

Related Reading

The accumulation phase was highlighted by Ethereum trading in a range between the upper and lower ends of $3,520 and $3,185, respectively. Following this accumulation phase, Ethereum entered a brief but volatile manipulation phase between January 27 and January 29 before eventually rebounding at the $3,000 mark. 

On January 30, Ethereum officially broke out of the manipulation phase, marking the beginning of the anticipated expansion phase. Ted believes this breakout is a key turning point, as it signals the start of a strong rally. With this expansion phase in mind, crypto analyst Ted predicted that the Ethereum price will rally to at least $4,500 in February before setting its sights on a new all-time high by March. 

Notably, the analyst’s outlook is based on a combination of breakout from technical patterns and market sentiment, and he noted that Ethereum’s undervaluation is now coming to light. 

ETH’s Breakout Hinges On The $4,000 Price Mark

In a separate technical analysis, Ted highlighted that Ethereum is breaking out of a downward-sloping wedge pattern on the daily candlestick timeframe. Based on this pattern, he projected that ETH could reach $4,000 within eight to ten days after the breakout is fully confirmed. His forecast is grounded in Ethereum’s historical price movements, particularly referencing two similar breakouts in 2021 and 2024, both of which resulted in a 40% surge within the same time frame.

Related Reading

In another analysis, Ted noted that Ethereum is forming higher lows in the longer timeframe. He emphasized that reclaiming the $4,000 mark is crucial right now, as doing so would pave the way for Ethereum to target new all-time highs. According to his projections, a decisive break above this key level will set the stage for Ethereum to reach between the $9,000 and $10,000 range over the next three to four months.

Aside from technical indicators, Pillows pointed to the potential impact of Donald Trump’s involvement in Ethereum. He suggested that Trump’s continued accumulation of ETH could further fuel the rally. One such accumulation is the latest acquisition of $10 million worth of ETH by World Liberty Financial, a crypto company affiliated with Donald Trump and some of his family members.

At the time of writing, Ethereum is trading at $3,261.

Featured image from Adobe Stock, chart from Tradingview.com