Several crypto analysts have suggested that Ethereum (ETH) may already have reached its bottom due to this market cycle. However, the second largest digital asset by market capitalization is expected to encounter significant price resistance in the short term.
Ethereum could have hit the bottom of this cycle
According to X’s post by Crypto analyst Traderpa, ETH may have discovered the bottom of this market cycle. Analysts shared the following chart showing ETH repeatedly bouncing back levels of support from five years ago:
When ETH last touched on this support line, it sparked a strong gathering, with its price increasing an impressive 340%. This time, similar move could push ETH into the new all-time high (ATH).
fellow crypto trader Merlijn suggested that Ethereum could be on another parabolic run crisis. He pointed out that ETH appears to follow the “1, 2, 3 bounce pattern.”
For beginners, the 1, 2, 3 bounce patterns are technical analysis setups where the underlying asset prices bounce off the trend line (points 1 and 2 on the chart below), followed by a range breakout after bounce from point 3.
Crypto analyst Cryptobullet provided a medium-term outlook for ETH’s price action. He suggested that ETH may be ready for a “good medium-term bounce.” He added:
This month, ETH was a hit in the 300-week MA. In its history, ETH has only hit 300-week MA twice: June 2022 (Bear Market Bottom) and this month – March 2025. My goal for bounce is $2900-3200. Once you reach your goal, we’ll reassess it.
ETH faces strong resistance at $2,300
In a recent X post, renowned digital asset analyst Ali Martinez It’s attracting attention Ethereum has regained its $2,040 realised price, but the next major obstacle is at $2,300 based on price range analysis.
Meanwhile, on-chain data and other metrics suggest a possible price recovery for ETH. Recent data from Santiment show That ETH whale – a wallet holding a large amount of ETH – has accumulated over 420,000 ETH in five days.
Additionally, ETH reserves cryptocurrency exchanges strike This week it was a new low, dropping to 18.3 million tokens. Reducing ETH reserves on trading platforms can often promote a narrative of supply shortages and increase prices.
However, ETH continues Low performance Slide to a fresh multi-year low with no clear signs of recovery against Bitcoin (BTC). At press time, ETH will trade at $2,052, a 0.9% decrease over the past 24 hours.
Unsplash.com featured images, X and tradingView.com charts
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