Ethereum’s recent market performance has sparked intense debate among cryptocurrency analysts about whether it has finally hit its price bottom. After a period of underperformance, Ether (ETH) has rebounded by 28% in February, climbing from a local low of $2,150 just two weeks prior.
Crypto Yodhha, a widely followed analyst, suggests that Ethereum’s price trend is mirroring the 2019-2020 cycle, which preceded a massive 2,550% rally. The key technical pattern noted is the completion of a WXY correction according to Elliott Wave Theory, indicating the potential end of a prolonged market downturn and the beginning of a new bullish trend. Yodhha emphasizes that Ethereum needs to break above $4,600 to confirm this bullish trend, potentially pushing its price toward the $10,000-$13,000 range.
Analyst Bottom Sniper identifies a critical support zone for Ethereum, centered around the $880 low during the bear market, situated between key Fibonacci retracement levels. This zone has historically been a strong support area, coinciding with a weekly demand zone and an SR flip. If Ethereum holds above this zone, it could resume its bullish market trajectory toward a $4,000 target.
However, not all analysts are optimistic in the short term. TraderXO cautions that Ethereum might remain trapped in a sideways trading range, bounded by previous key levels, for the months ahead. Despite this, should ETH revisit its support at $2,124, it could attract buyers anticipating a rebound to around $2,850.
Conversely, analyst Mister Crypto believes Ethereum has bottomed out around $2,124 with a significant reversal on the horizon. TraderPA also offers a positive outlook, noting that Ethereum has shown signs of bottoming against Bitcoin, as indicated by the Stochastic RSI indicator. Historically, periods where ETH/BTC remained oversold have preceded substantial Ethereum gains, potentially signaling the start of a new bullish phase by August 2025.
The analysis underscores that while technical indicators and historical patterns provide insights, they are not definitive forecasts. Investors and traders should exercise caution and conduct thorough research before making market decisions, as investments bear inherent risks and uncertainties.
