Ethereum Appears ‘Bottomed Out,’ Analyst Predicts A Rally Is Near

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,966,993,896,915	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,966,993,896,915

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-1,089.87	-1.08%	99,578.09	99,574.76	99,574.77

Price Change

Price Change %

Current Price

Bid Price

Offer

-1,089.87

-1.08%

99,578.09

99,574.76

99,574.77

High Price	Low Price	Open Price	Prev. Close	52 Week Range
101,459.84	99,400.82	100,504.94	100,667.96	42,228.01 - 109,356.00

High Price

Low Price

Open Price

Prev. Close

52 Week Range

101,459.84

99,400.82

100,504.94

100,667.96

42,228.01 - 109,356.00

Exchange	Last Trade	Size	Trade Price	Currency
BSTP	03:34:15	0.000161	99,646.00	USD

Exchange

Last Trade

Size

Trade Price

Currency

BSTP

03:34:15

0.000161

99,646.00

USD

Price x Volume	Volume	Base Symbol	Related Pairs
126,359,378.20	1,258.24	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

126,359,378.20

1,258.24

Ethereum Appears ‘Bottomed Out,’ Analyst Predicts A Rally Is Near

22/01/2025 2:00am

NEWSBTC

Ethereum (ETH) appears to have ‘bottomed out,’ according to crypto analyst Mister Crypto. The analyst shared this observation as investor confidence in ETH continues to wane due to the digital asset’s relatively lackluster price performance in 2024. Is Ethereum Due For A Rally? Unlike Bitcoin (BTC) and Solana (SOL), which have surged in the past year by 146% and 154%, respectively, Ethereum has risen a modest 32% over the same period. As a result, ETH holders are understandably frustrated with the digital asset’s price action, with some whales liquidating their holdings at losses of up to $1 million. Related Reading: Will Ethereum Bounce Back? Crypto Analysts Discuss Potential Price Recovery However, some analysts now believe it may finally be time for Ethereum to break out of its stagnation. Crypto trader Mister Crypto shared the following ETH/BTC monthly chart on X, showing ETH’s price bouncing off a long-standing trendline before entering a parabolic run. This analysis aligns with a recent report highlighting ETH’s four-year low of 0.031 against BTC on the weekly chart. A potential rebound from this multi-year support level could position ETH to outperform BTC in the short term. Crypto analyst Merlijn The Trader also identified a bullish falling wedge pattern forming on Ethereum’s 2-day chart. According to Merlijn, a breakout to the upside could make Ethereum’s next move “legendary.” For the uninitiated, a bullish falling wedge is a technical chart pattern that forms when an asset’s price consolidates between two downward-sloping, converging trendlines. It typically signals a potential trend reversal or continuation, with a breakout to the upside expected once the price moves above the upper trendline. In Ethereum’s case, its price must decisively break through the $3,400 level to confirm the bullish falling wedge pattern. Failure to do so could result in ETH falling to the next major support levels at $3,000 and potentially $2,400. Finally, seasoned crypto market commentator Poseidon offered a more macro perspective on ETH’s price action. The analyst noted that Ethereum has been trading within a range for the past four years. A breakout above the critical $4,000 resistance level could propel ETH beyond $10,000, based on Fibonacci price extensions. 2025: The Year Of Altseason? A full-blown altseason typically requires ETH to lead the market. Thus, a strong 2025 for Ethereum could significantly increase the likelihood of the eagerly anticipated altseason. Fortunately, many investors are optimistic about ETH’s prospects this year. Related Reading: Ethereum Poised For A Bullish Q1 2025? Here’s What Experts Say In December 2024, analysts at brokerage firm Bernstein remarked that ETH’s risk-reward ratio has become increasingly attractive. Similarly, Steno Research predicted that ETH could outperform BTC in Q1 2025, with a price target as high as $8,000. However, the $4,000 resistance level remains ETH’s Achilles’ heel. At the time of writing, ETH is trading at $3,280, down 2.1% in the past 24 hours. Featured image from Unsplash, Charts from X and TradingView.com

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