- Ethereum’s Chart Resembles Past Bull Runs – Analysts note similarities between ETH’s current price action and previous major rebounds, such as the March 2020 crash and Luna’s collapse in 2022, both of which led to massive price surges.
- Technical Indicators Flashing Bullish Signals – ETH is oversold on the weekly Stochastic RSI and is testing a five-year trendline support, historically a key level for major price reversals.
- Upcoming Catalysts Could Fuel a Rally – Despite concerns over competition and declining on-chain activity, Ethereum’s Pectra upgrade and potential institutional adoption could trigger a strong upward move.
Ethereum’s price has been stuck in a sideways grind for months, but some analysts believe this quiet phase won’t last much longer. Key technical signals and past market cycles suggest ETH could be on the verge of a breakout.
Since the start of 2025, Ethereum has dropped over 40%, underperforming against Bitcoin and several other major altcoins. However, if history repeats itself, this slump might just be the calm before a storm.
Historical Patterns: A Bullish Echo of the Past?
Crypto analyst Mister Crypto recently pointed out that ETH’s current chart structure looks eerily similar to its movements after the March 2020 COVID crash. Back then, ETH nosedived before staging a massive recovery, eventually leading to new all-time highs.
Another trader, Merlijn The Trader, backs this theory. He notes that Ethereum tends to experience deep corrections before explosive rallies. This was seen not only after the COVID crash but also after the Luna collapse in 2022, where ETH bounced back with a 270% surge despite extreme bearish sentiment.
Some analysts have also compared today’s ETH chart to the 2017 bull market, which showed a five-wave accumulation pattern before skyrocketing. While ICO hype fueled that rally, other catalysts—such as institutional adoption and upcoming network upgrades—could now drive a similar move.
Oversold on the Weekly Stochastic RSI
Technical indicators further support the case for a potential rally. Crypto trader TraderPA recently highlighted that ETH is currently oversold on the weekly Stochastic RSI, a momentum indicator that signals potential trend reversals.
Even more crucially, Ethereum is now testing a five-year trendline support—a key level that has marked major market bottoms throughout ETH’s history. Each time ETH has bounced from this long-term support, it has led to massive price recoveries.
Investor Concerns and Ethereum’s Challenges
Despite these bullish signals, concerns still linger. Ethereum’s supply dynamics are shifting, transaction volumes are declining, and competition from Layer-1 rivals like Solana is intensifying. Unlike past bull runs, Ethereum’s on-chain activity isn’t as strong, raising doubts about its short-term momentum.
Can Upcoming Upgrades and Institutional Interest Spark a Rally?
While Ethereum faces challenges, upcoming Ethereum upgrades, such as Pectra, could reignite interest in the network. Additionally, if Wall Street deepens its exposure to ETH and policymakers introduce favorable regulations, fresh institutional capital could flood in.
For those tracking Ethereum’s historical trends, this could be a make-or-break moment. If the pattern holds, ETH might be in a major accumulation zone before its next big upward cycle—and those who recognize it early might catch the next explosive rally.
