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.
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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
Ethereum Below $4,000 as BlackRock Trims Holdings and ETF Outflows Accelerate