Ethereum (ETH) has the potential to surge sharply, analysts reveal similarities with 2020 trends

Jakarta, Pintu News – According to the latest analysis from Mister Crypto on the X platform, Ethereum ETH->Current ETH PriceRp 0Market Cap-Trading Volume-Circulating Supply- looks set to experience a significant price increase. The analyst highlighted the similarities between Ethereum’s current price movements and the situation in 2020, after the market crashed due to the COVID-19 pandemic.

Ethereum Trend Reversal on the Threshold?

Ethereum’s recent lackluster price action is expected to end soon. Some analysts have pointed out that there is a potential trend reversal for the cryptocurrency with the second-largest market capitalization. Mister Crypto shared a chart that shows a similar pattern to what happened earlier.

The pattern suggests that Ethereum may be returning to bullish momentum after the recent hacking incident on the Bybit exchange. Mister Crypto’s opinion is also supported by Merlijn The Trader, another crypto analyst, who in a separate post on X, stated that ETH is likely to repeat its historical cycle which is usually followed by capitulation before a sharp spike.

Also Read: Crypto Analyst Ali Martinez Explains Potential Catalysts for Cardano (ADA) March 2025 Price

Indicators Reinforce ETH’s Rally Potential

Not only is the historical pattern bullish, several indicators also point to a potential rally for Ethereum. TraderPA, a crypto analyst at X, stated that Ethereum is currently oversold at current prices and the weekly Stochastic Relative Strength Index (RSI) is showing potential rebound signals.

Additionally, Decode, another crypto analyst, emphasized the importance of the Elliott Wave Theory in predicting ETH price momentum. The analyst explained that an increase in ETH reserves on exchanges could hinder a rapid price recovery. Currently, Ethereum is trading at $1,911, up 0.9% in the last 24 hours.

Theory and Analysis Support Ethereum’s Rise

It is important to understand that these predictions are not based on speculation alone, but are backed by in-depth technical analysis. The Elliott Wave Theory, for example, is a tool that has proven effective in predicting crypto market fluctuations.

The rise in Ethereum’s reserves on exchanges, while it could be a short-term headwind, also suggests that there are more market participants preparing for the next price movement. This could be interpreted as a sign that they anticipate a significant price increase in the near future.

Conclusion

With various analysis and indicators in favor, Ethereum’s potential price rise doesn’t seem to be an empty hope. Investors and crypto market watchers may want to take a closer look at Ethereum’s movements in the coming weeks and months, as it could be the start of a long-awaited major rally.

Also Read: Ripple (XRP) Price Surge Predicted After Crypto Wallet Launch in March 2025

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Historical Pattern from 2020 Hints Ethereum Could Be Poized for a Parabolic Rally, Analysts Explain. Accessed on March 19, 2025
• Featured Image: CNBC