Considering that the ongoing cycle is still in the bullish phase, confidence in Ethereum about an imminent significant rebound to unprecedented levels has emerged within the community. ETH may have faced increased volatility in recent weeks, but crypto analysts maintain that the altcoin’s next big rally could be on the horizon.
A historic return towards the current all-time high is imminent
Titan of Crypto, a technical expert and trader, deepened in Ethereum price performance in the current cycle, suggesting a move to historical levels. In the analysis, Titan of Crypto claims that ETH may be on the verge of reclaiming its current all-time high of $4,800.
The expert’s perspective is based on past trends, in particular the 2021 market cycle in which ETH reached its current maximum price. His prediction points to a similar trend when periods of consolidation preceded notable price spikes in 2021.
Growing negative sentiment about ETH price Performance among investors is the main reason for the bullish analysis of Titan of Crypto. While many complain about ETH’s lackluster performance in the current cycle, the analyst highlighted that the altcoin is ahead of the 2021 market cycle.
As of December 2020, the expert noted that Ethereum it was still 90% below its previous all-time high. Meanwhile, the altcoin is just 44% below its current all-time high this month, implying a potentially better bull cycle than the last one.
In the past cycle, ETH did not regain its peak until January 2021. Since this cycle is performing quite similarly to previous scenarios, Titan of Crypto analysis suggests that the crypto asset could also reach its all-time high again soon, possibly in January 2025.
With increase investor confidenceWith greater adoption of decentralized applications and constant network upgrades, Ethereum could attract the momentum needed to reach a new peak. However, it will be important to monitor key resistance levels and overall market conditions to determine ETH’s next move in the coming weeks.
ETH Price Indicates Path Toward $7,300 Milestone
Despite the current volatility in the market, ETH continues to show potential for significant progress into uncharted territory. The recent price action shows that Ethereum has formed a crucial chart formation, generating optimism among investors about a bullish breakout.
According According to Crypto market expert Patel, an inverse head and shoulders pattern has emerged in the 5-day period. This key formation, which is often linked to notable price increases, indicates that the altcoin is about to recover while anticipating a bullish breakout.
If ETH breaks the bullish pattern, the expert is confident that the digital asset can rise to the $7,300 level. After that, Crypto Patel expects others alternative currencies will do the same shortly, urging investors and traders to be patient.
Featured image from Unsplash, chart from Tradingview.com
