In recent analyses on the X platform, Ethereum (ETH) is being highlighted for its potential bullish trajectory. With a current price of $3,731 and a 24-hour trading volume of $16.748 billion, Ethereum has seen a slight decline, dropping 1.91% in the last 24 hours and 2.70% over the past week. Despite this, market analysts foresee promising developments on the horizon.
An analyst, Yoddha, has posted a detailed weekly chart analysis on the X platform, indicating a strong bullish pattern for Ethereum. The chart, derived from TradingView, compares Ethereum’s price movements against USDT on Binance from 2017 to a projected peak in 2025.
Key highlights from this analysis include a marked top in 2017 at $1,440, another significant top in 2021 at $4,868, and a projected top for 2025 at $13,654.05. The chart shows the current price at approximately $3,728.50, with a label indicating “We are here.”
Yoddha’s analysis identifies higher highs and higher lows (HH and HL), signifying an ongoing uptrend, along with periods marked as “Accumulation,” suggesting phases of price consolidation before further upward movement. A diagonal trend line connects the tops from 2017 and 2021, extending towards the projected 2025 top, reinforcing the long-term upward trend.
If Ethereum continues to follow its historical pattern, it could potentially reach the projected top of $13,654.05 by 2025. The chart underscores that major price tops have occurred at approximately four-year intervals, suggesting that Ethereum is on the path to another significant peak.
New Era for Ethereum: P2P.org Introduces Restaking API PlatformAnother analyst, Jelle, also on X, acknowledges the current pullback in Ethereum’s price, noting it is retreating slightly into a key support level. Jelle anticipates a few more days of price consolidation, or “chop,” before Ethereum makes new highs and potentially reaches new all-time highs (ATHs). Emphasizing patience, Jelle suggests that the current phase is temporary and a precursor to further gains.
As of today, Ethereum’s circulating supply stands at 120 million ETH, giving it a market capitalization of $446,914,917,524. While Ethereum has experienced a 2.70% decline over the past seven days, it is underperforming compared to the global cryptocurrency market, which has seen a -1.30% decline in the same period.