In the dusty corners of the digital frontier, where the sun sets on the hopes of many, Ethereum’s native token, Ether (ETH), is beginning to stir. It seems the winds of fortune have shifted, as the recent uproar against Solana (SOL) — oh, that LIBRA memecoin debacle! — has left a trail of discontent, coinciding with a noticeable slump in Solana’s bustling activity.
As the tides of sentiment turn favorably towards the largest altcoin, one analyst, with a twinkle of optimism in their eye, believes that ETH might just rally like a stubborn mule over the next few weeks, galloping towards the end of March.
Ethereum’s Bullish Dance in the “2nd Half of Q1” Since 2020
While most analysts tiptoe around the current ETH price drawdowns, cautious as a cat in a room full of rocking chairs, Honey, a full-time crypto trader, boldly claims that history is on their side. They argue that Ether has shown a penchant for a market pump during the latter half of Q1 since 2020. Whether the market is bullish or bearish, it seems ETH has a knack for surprising us — even managing a 50% leap during the bear market of 2022. Who knew?
Data, that fickle friend, reveals that Ethereum has averaged a 40% return during the final six weeks of Q1. However, as the saying goes, “What goes up must come down,” and the bullish outcomes have been gradually diminishing. If Ether can muster a 20% to 22% rise in the coming weeks, we might just see it hover around a tantalizing $3,500.
Yet, our friend Honey is not blind to the changing landscape of 2025, where the number of altcoins has exploded like popcorn in a hot pan. They quip,
“If we don’t pump by the end of Q1, my thesis is invalid and we shall see what happens but until then, I remain optimistic.”
In a similar vein, Rektproof, another crypto trader, muses that the opportunity cost of an ETH long position looks as juicy as a ripe peach. They draw comparisons to Bitcoin and gold, assets that have a knack for climbing higher after a period of accumulation. 🍑
However, the data suggests that Ethereum is lagging behind this cycle, like a tortoise in a race against hares. A significant bullish reversal could see this crypto asset follow in the footsteps of its counterparts, potentially reaching a new all-time high above $6,000. But will it? Only time will tell.
Can Ether Dodge Its August 2024 Sell-off?
Alas, Ethereum faces yet another hurdle in its quest for glory. The current market structure resembles a déjà vu from its drawdown period in Q2-Q3 2024. It’s like watching a rerun of a bad movie — prices forming lower highs beneath descending resistance, followed by a sharp correction below the multimonth resistance range at $2,800-$2,850. 🎬
Just like in August 2024, the price is currently consolidating below $2,800. For Ether to escape another three months of sideways price action under the resistance range, it must establish a daily close above $2,800-$2,850. Otherwise, the bullish expectations may be dashed, and we could see prices re-test their recent lows under $2,300. Oh, the drama!
Read More
- EUR JPY PREDICTION
- DF PREDICTION. DF cryptocurrency
- ASTR PREDICTION. ASTR cryptocurrency
- Doctor Strange’s Shocking Return in Marvel’s Avengers: Doomsday Revealed!
- TRB PREDICTION. TRB cryptocurrency
- COW PREDICTION. COW cryptocurrency
- XDC PREDICTION. XDC cryptocurrency
- South of Midnight PC Requirements Revealed
- MIN PREDICTION. MIN cryptocurrency
- POL PREDICTION. POL cryptocurrency
2025-02-19 22:38