Discussions about Ethereum’s Next Big Price Rally have surged significantly within the crypto community following its recent bullish strength in recent days. As bullish momentum gains ground, there is speculation that ETH could rally soon. However, a recent development suggests otherwise.
Ethereum’s Major Predicted Rally Might Require More Patience
It is widely believed that Ethereum’s next big rally is just around the corner, as evidenced by several bullish forecasts. However, Ali Martínez, market expert and investor, predict that the notable and long-awaited move may take longer than the general market expects.
The expert points out a key trend in market sentiment that implies ETH could need more time to build the momentum needed for its next price breakout. This forecast may also indicate that the altcoin may witness a period of consolidation before any substantial upward movement.
In the last two bull cycles, when long-term holders became greedy, Ali Martínez highlighted that Ethereum rose super high. Meanwhile, the metric shows that the mood of long-term holders is still in the early phases of belief.
Comparing the development of the current cycle with past cycles, the expert is confident that the altcoin’s next big move could still be ahead. Martinez’s forecast serves as a warning to traders and investors as ETH navigates the current volatile phase.
As optimism around ETH begins to grow, Venturefounder, a crypto analyst, has pointed out the digital asset’s path to a new all-time high. His forecast is part of a broader sentiment that ETH could be preparing for a significant upward movement.
After browsing Ethereum price action on the 3-week chart, Venturefounder believes the altcoin will rise to $4,900. Furthermore, the expert attributes his forecast solely to a escape of an imminent chart formation, particularly the Cup and Handle pattern.
The chart shows that ETH finally reached a weekly close of $3,800 as support. Although it took weeks for the asset to reach the level, Venturefounder claims the move was solid.
With ETH closing the week at $3,800 and the Cup and Handle pattern forming, the $4,900 level could be the next price target. After the milestone, Venturefounder foresees other higher levels, such as $5,349, $6,457, and $7,238, by the end of the first quarter of 2025.
Is ETH Outlook Turning Bearish?
During the past week, ETH showed solid price performance, rising as high as $4,089 on Monday. However, its bullish momentum seems to be slowing down, leading to a drop towards the $3,800 level.
This sudden drop has triggered a possible negative outlook for ETH in the near term as investors gradually become bearish. Following the price drop of almost 4% in the last day, its market capitalization and trading volume also fell by 3% and 13% in the same time period.
Featured image from Unsplash, chart from Tradingview.com
