Ethereum Mirrors Bitcoin’s 2018-2021 Cycle Amid Record Selling

by

🚨 ETH on the Brink of a Massive Breakout? 🚨

Oh, the drama! The intrigue! The Ethereum price is a veritable soap opera, darling. And now, crypto analyst The Cryptagon is throwing his hat into the ring, suggesting that ETH is mirroring Bitcoin‘s 2018-2021 cycle. How thrilling!

Could Ethereum Repeat Bitcoin’s 2018-2021 Cycle?

The Cryptagon, in a TradingView post that’s simply dripping with sophistication, noted that Ethereum has been following Bitcoin’s lead rather closely. And if we’re to believe him, ETH could be on the cusp of a massive breakout, just like its flagship counterpart. One can almost hear the champagne corks popping, can’t one?

Of course, this is all rather complicated by the fact that Ethereum has been under a great deal of pressure since December. In fact, it’s been so pressured that it’s almost touched its 12-month falling support. But, darling, The Cryptagon is nothing if not optimistic. He’s convinced that this is not the time to be bearish on ETH, no, no, no. Why, it could still reach new heights, just like Bitcoin did in 2021!

Now, I know what you’re thinking, darling. “But what about the record selling?” Ah, yes, that’s a bit of a fly in the ointment, isn’t it? Cryptoquant founder Ki Young Ju revealed in an X post that Ethereum has faced record active selling over the past three months. How… distressing.

And yet, The Cryptagon remains bullish, convinced that ETH could at least reach $8,000 in this market cycle. One can only imagine the champagne corks popping at that prospect, can’t one?

But, alas, there’s more to the story, darling. Crypto analyst Ali Martinez has identified $1,887 as the most important support level for Ethereum at the moment. And if ETH drops below that level, well… it could be a bit of a disaster, darling. A massive crash, perhaps even to as low as $800. Oh, the horror!

The Most Important Price Level For ETH At The Moment

Martinez has already raised the possibility of Ethereum crashing to as low as $800, and I must say, darling, it’s a prospect that sends shivers down my spine. But, of course, The Cryptagon remains optimistic, convinced that ETH will somehow, miraculously, break out above the falling resistance and rally to the 1.618 Fibonacci extension.

At the time of writing, the Ethereum price is trading at around $1,893, up over 1% in the last 24 hours, according to data from CoinMarketCap. But, darling, one can only wonder what the future holds for this poor, beleaguered cryptocurrency.

Read More

2025-03-14 21:41