Why Today’s Ethereum Price Surge Has Analysts Pointing to the Past
- Ethereum is rallying today, with its price up over 2.4% and volume surging 17%
- Analysts say the rally is fueled by a chart pattern that mirrors its 2021 bull run
- Renewed demand is shown by a rebounding RSI and weakening bearish momentum on the MACD
Ethereum’s price chart is showing a striking similarity to its 2021 market structure, leading some analysts to believe history may be about to repeat with a major price surge later this year. Analyst Gordon (@AltcoinGordon) was among the first to highlight the repeating pattern, pointing to a setup that preceded a massive bull run three years ago.
Is Ethereum Repeating Its 2021 Price Pattern?
The analysis centers on a specific sequence: a “Dead Cat Bounce” followed by a “Final Retest” of a key support level. In 2021, Ethereum went through this exact pattern when it retested support near $250.
After holding that level, ETH began an explosive rally that pushed it past $4,000 by the year’s end. Gordon’s current chart analysis suggests a similar dynamic is now in play, with E…
The post Why Today’s Ethereum Price Surge Has Analysts Pointing to the Past appeared first on Coin Edition.
Read More
SharpLink Eyes 1M ETH Goal After $145M Deal as ETH Targets $4K on Demand
Why Today’s Ethereum Price Surge Has Analysts Pointing to the Past
- Ethereum is rallying today, with its price up over 2.4% and volume surging 17%
- Analysts say the rally is fueled by a chart pattern that mirrors its 2021 bull run
- Renewed demand is shown by a rebounding RSI and weakening bearish momentum on the MACD
Ethereum’s price chart is showing a striking similarity to its 2021 market structure, leading some analysts to believe history may be about to repeat with a major price surge later this year. Analyst Gordon (@AltcoinGordon) was among the first to highlight the repeating pattern, pointing to a setup that preceded a massive bull run three years ago.
Is Ethereum Repeating Its 2021 Price Pattern?
The analysis centers on a specific sequence: a “Dead Cat Bounce” followed by a “Final Retest” of a key support level. In 2021, Ethereum went through this exact pattern when it retested support near $250.
After holding that level, ETH began an explosive rally that pushed it past $4,000 by the year’s end. Gordon’s current chart analysis suggests a similar dynamic is now in play, with E…
The post Why Today’s Ethereum Price Surge Has Analysts Pointing to the Past appeared first on Coin Edition.
Read More