Could Ethereum Repeat Its 2017 Rally? Analysts Spot Potential 4X Surge
A Familiar Pattern Emerges
Generally, Ethereum just blew past $3,000 and everybody is talking about it. Normally, I see the same vibes from the 2017 surge when ETH went from $56 to over $1,100 in a flash, which was pretty crazy.
Obviously, Crypto analyst Leshka.eth says the price action mirrors the 2015-2018 cycle, showing a clear path: accumulation, breakout, then massive rally, and he thinks we are right in the middle of that breakout now.
Usually, He thinks we will see a big surge, and he warned that $ETH will 3X or 4X in the next six months, adding I cant believe it myself, but the pattern screams about it, still he notes the lingering bears could shake things up.
Apparently, The current accumulation feels longer than 2017, with ETH supply dropping on exchanges and more institutions peeking in, pushing price pressure up, and right now ETH trades near $3,000, up about 4% in the last day and 2% over the week.
Key Price Levels to Watch
Normally, If ETH stays above $3,000, that could open the gate to $3,200, and if it drop below, we might see a pull-back erasing recent gains.
Generally, Michaël van de Poppe of MN Fund points out ETH’s quick bounce against Bitcoin after last week’s dip, and he said It’s almost entirely reclaiming the losses of last week… it’s holding a crucial level of support.
Obviously, Even though ETH sits 32% under its October peak, open interest in futures has surged back to around 5 million ETH – the same high before the crash, which is a good sign.
Usually, Analyst Ted tweeted, Ethereum Open Interest has fully recovered from the October 10th crash, Meanwhile, $ETH price is still down 32%, Classic crypto degens, and that gap hints at traders piling back in.
On-Chain Activity and Institutional Moves
Apparently, Santiment data shows non-empty ETH wallets topping 175 million, a record across all crypto networks, showing more people holding onto ETH, and that is a good thing.
Generally, But not everything is rosy – Spot Ethereum ETFs saw a net outflow of $63.53 million on Jan 27, maybe profit-taking or short-term caution from institutions, which is understandable.
Normally, That outflow might just be a temporary rotation, not a sign of a long-term bear market, and we will have to wait and see.
What’s Next for Ethereum?
Obviously, If the pattern repeats the 2017 rally, we could see a big upside, and that would be great for everybody.
Usually, Yet analysts warn macro factors, regulation, and Bitcoin’s health could change the story, and we have to be careful.
Generally, Traders are watching the $3,000 support like hawks, and a clean break above might launch a broader rally, failure to hold could bring short-term selling, which is a risk.
Apparently, As the market shifts, Ethereum’s ability to keep momentum will decide if it can match or beat its past performance, and that is what we are all waiting for.
