Experts believe that Ethereum is entering its “secondary bull cycle phase,” a crucial step that could take its value to heights never seen before.
Ethereum (ETH) is starting to attract attention as it enters a new phase of appreciation. After a long period of stagnation while Bitcoin (BTC) reached $100,000, the second-largest cryptocurrency on the market has seen impressive growth. In one week, ETH has gained 10%, and in the last month, it has accumulated a 46% increase, reaching $3,996.
Technical indicators support optimism
Illia Otychenko, chief analyst at cryptocurrency exchange CEX.io, notes that recent technical signals support the bullish case for Ethereum. In October, the Relative Strength Index (RSI), which measures the intensity of price movements, broke a descending resistance line. This movement signals positive momentum and usually anticipates significant rallies.
Another technical indicator, the MACD (Moving Average Convergence Divergence), showed a “bullish crossover” in the same period, indicating a favorable trend. According to Otychenko, such patterns have been historically significant in driving large market gains.
History favors Ethereum in Q1
Historical data reinforces optimism regarding Ethereum at the beginning of the year. During the previous first quarters, ETH outperformed BTC, posting average gains of 93%, while Bitcoin advanced around 56%. The analyst also highlights the superior performance of Ethereum in the post-halving rallies of 2017 and 2021.
With the bearish divergence on the ETH/BTC chart indicating a potential strengthening of Ethereum against Bitcoin, analysts believe the asset is well-positioned to surpass its all-time high of $4,900. Some experts are already projecting ETH reaching $6,200 in the coming months.
The market is closely following Ethereum’s movements, and its next steps could mark a new chapter in the history of cryptocurrencies. For investors and enthusiasts, the bull run seems to be just beginning.
