discussion about Ethereum’s Next Major Price Rally It has been featured heavily within the cryptocurrency community over the past few days with its recent bullish performance. There is speculation that ETH may soon rebound as the upward momentum gains strength. But recent developments suggest otherwise.
Expected Major Rally for Ethereum May Require More Patience
It is widely believed that Ethereum’s next big bull run is just around the corner, as evidenced by several optimistic predictions. Nonetheless, market expert and investor Ali Martinez said: We predict that the much-anticipated high-profile move could take longer than the general market expects.
The expert points to key market sentiment trends that suggest ETH may need more time to build the momentum needed for the next price breakout. This prediction may also indicate that the altcoin may witness a period of consolidation before any real upside.
When long-term holders got greedy in the last two bull cycles, Ali Martinez emphasized: Ethereum It went up incredibly high. Meanwhile, this indicator shows that the mood of long-term holders is still in the early stages of belief.
Comparing the developments of the ongoing cycle with past cycles, the expert is confident that the next big move in altcoins may still be ahead. Martinez’s forecast provides cautionary insights for traders and investors as ETH navigates its current phase of volatility.
As optimism about ETH begins to build, cryptocurrency analyst Venturefounder pointed out The path for digital assets to hit record highs. His prediction is part of a broader sentiment that ETH may be preparing for the next one. significant upward trend.
After exploring Ethereum’s price action on the three-week chart, the Venturefounder believes the altcoin will surge to $4,900. Moreover, experts attribute their predictions only to factors such as: breakout Impending chart formations, especially in cup and handle patterns.
The chart shows that ETH has finally reached the support close at $3,800 per share. Despite taking several weeks to reach this level, the Venturefounder claims the move is solid.
With ETH ending the week at $3,800 and a cup and handle pattern forming, the $4,900 level could be the next price target. Following the milestones, Venturefounder expects higher levels of $5,349, $6,457, and $7,238 by the end of the first quarter of 2025.
Is the outlook for ETH turning bearish?
Over the past week, ETH It had a strong price performance on Monday, rising to $4,089. However, the upward momentum appears to be slowing and heading towards the $3,800 level.
This sudden decline has triggered a potentially negative outlook for ETH in the near term as investors become increasingly pessimistic. Following the previous day’s price drop of nearly 4%, market capitalization and trading volume also decreased by 3% and 13% during the same period.
Featured image from Unsplash, chart from Tradingview.com