Given that the ongoing cycle is still in the bull phase, the confidence in Ethereum about an impending significant rally to unprecedented levels has arisen within society. ETH may have faced increased volatility in recent weeks, but crypto analysts claim that the altcoin’s next big rally could be on the horizon.
A historic comeback against the current All-Time High is imminent
Titan of Crypto, a technical expert and trader, dug into Ethereum’s price performance during the current cycle, indicating a move to historic levels. In the analysis, the Titan of Crypto claims that ETH may be on the way to regaining its current record level of $4,800.
The expert’s perspective is based on past trends, especially the 2021 market cycle where ETH reached its current price peak. His prediction points to a similar trend as periods of consolidation preceded notable price increases in 2021.
Growing negative feelings about ETH’s price performance among investors is the main reason for Titan of Crypto’s bullish analysis. While many complain about ETH’s weak performance in the current cycle, the analyst emphasized that the altcoin is ahead of the 2021 market cycle.
As of December 2020, the expert noted that Ethereum was still 90% below its previous all-time high. Meanwhile, the altcoin is only 44% below its current all-time high this month, meaning a potentially improved bull cycle than the last one.
In the most recent cycle, ETH did not regain its peak until January 2021. As this cycle performs quite similarly to previous scenarios, Titan of Crypto’s analysis suggests that the crypto asset may also return to its all-time high soon, possibly in January 2025.
With increase investor confidenceincreased use of decentralized applications and consistent network upgrades, Ethereum may attract the necessary momentum to reach a new peak. However, it will be important to monitor key resistance levels and general market conditions to determine ETH’s next move in the coming weeks.
ETH’s price tips on the way to $7,300 milestone
Despite the current market volatility, ETH continues to show potential for a significant move into uncharted territory. Recent price action shows that Ethereum has formed a crucial chart formation, fueling optimism among investors about an upward breakout.
According to to market expert Crypto Patel, an inverse head and shoulders pattern has emerged over the 5-day period. This key formation, which is often linked to notable price increases, indicates that the altcoin is poised to rally when it sees a breakout to the upside.
Should ETH break out of the bullish pattern, the expert is convinced that the digital asset could rise to the $7,300 level. After that, Crypto Patel expects otherwise altcoins to follow shortly and urges investors and traders to be patient.
