Ethereum Price On The Verge Of Repeating 2017-2021 Cycle Breakout, Target Above $20,000

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As a seasoned crypto investor with a knack for spotting trends and cycles, I find Mr. Tycoon’s analysis intriguing. The historical fractal comparison between the 2017-2021 and 2021-2025 Ethereum price patterns is compelling, suggesting that we might be on the brink of another significant ETH rally. If Bitcoin indeed leads the market cycles, as history suggests, and hits a new ATH in 2024, Ethereum could potentially surge past its previous all-time high and reach $23,000 or even more.

This month, Bitcoin (BTC) has hit unprecedented highs, but Ethereum‘s (ETH) price hasn’t seen a substantial surge as expected for the second-largest cryptocurrency by market value. However, a crypto analyst posits that this downtrend in ETH prices might soon reverse, given that Ethereum seems to be replicating its breakout pattern from its 2017-2018 cycle. If this analysis holds true, the ETH price could potentially reach an impressive new milestone above $20,000.

Ethereum Price Eyes New Target Above $20,000

Analyst Mr. Tycoon on TradingView has expressed a highly bullish forecast for Ethereum’s price, predicting it could reach an impressive peak of $23,000 during this market cycle. He is confident about Ethereum’s current price trend and believes that the cryptocurrency is poised to rise significantly in the near future, stating that it will likely “soar higher imminently.

During the 2021 bull market, Ethereum reached a new all-time high (ATH) of over $4,800, marking a significant price surge. A TradingView analyst has suggested that the pattern of Ethereum’s previous and current bull cycles bears a striking resemblance, which could indicate an upcoming increase in value.

Mr. Tycoon showcased a comprehensive graph illustrating the price trends of Ethereum during two distinct time periods: 2017-2021 and 2021-2025. In the first four-year phase, Ethereum reached its major low point in 2019, experiencing some ups and downs before surging strongly following Bitcoin’s record high, set in 2021.

In this ongoing four-year trend, Ethereum’s price behavior mirrors its macro low point in 2022, followed by a substantial drop. This resembles Bitcoin’s performance in the 2021 bull market, as suggested by the analyst’s chart, where it reached an all-time high in 2024.

According to the analysis on TradingView, Ethereum often sees an increase in value following a period where Bitcoin has reached a new all-time high (ATH). This suggests that Bitcoin usually takes the lead in market cycles, and when it establishes a new ATH, Ethereum typically follows suit, experiencing a significant surge.

Based on his thoughts, Mr. Tycoon anticipates a substantial rise in Ethereum’s price, potentially surpassing its previous peak and reaching over $23,000. This potential surge would equate to an impressive 557% increase from the current market value of ETH.

Currently, Ethereum stands at $3,586 in price. Notably, a crypto expert known as ‘Crypto Ash’ predicts a significant surge towards $10,000 or even $15,000 during this bull market for the leading altcoin.

The analyst found that the ideal moment to begin collecting Ethereum was in December 2024, offering a strategic entrance point for investors. His research shows that Ethereum has typically seen substantial price increases from January to April following each Bitcoin halving year. This implies that those who start buying ETH tokens as early as December could potentially benefit from gains if the Ethereum price surges in Q1 2025.

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2024-11-28 20:46