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With the current Ethereum value development, a crypto analyst has identified that the altcoin might be trying to stage a similar rally to what was seen with Bitcoin again in 2021. Crypto analyst TradingShot identified the similarities in a current evaluation and displaying the place the value might go if it does play out the identical method.
Ethereum Seems Like Bitcoin Did In 2021
Within the evaluation posted on TradingView, crypto analyst TradingShot showed how this Ethereum cycle motion appeared much like Bitcoin’s 2021 cycle motion. The primary of this was restoration from a significant value crash that led to new cycle lows for the cryptocurrency, earlier than staging a restoration that pushed it towards new highs.
Associated Studying
For Bitcoin, the crash occurred when the COVID-19 lockdown was introduced. Following this, the Bitcoin price had fallen more than 50% from above $9,000 to lower than $4,000 in lower than one month. Nonetheless, after this, the Bitcoin value rebounded from the cycle lows, crossing the 1-week MA50, after which breaking the decrease excessive trendline, and happening to succeed in new all-time highs.
For Ethereum, the crypto analyst pointed to the value crash triggered by Donald Trump’s tariff wars as being much like Bitcoin’s COVID crash. After Donald Trump introduced tariffs on different international locations, the Ethereum value additionally crashed by a big margin, going from above $2,400 to beneath $1,500 in lower than a month. This has been dubbed the ‘Commerce Conflict Crash’, and the altcoin continues to be reeling from the decline.
At present, the Ethereum value is caught on the level the place it’s nonetheless attempting to interrupt above the 1-week MA50, which is now the most important stage to beat to verify this development. Similar to Bitcoin, it has additionally seen the formation of main resistance on the decrease highs, and this sits proper on the $4,200 stage. This implies the Ethereum value nonetheless has around a 50% rally to complete earlier than it confirms the same development to Bitcoin.

How Excessive ETH Value Might Go If It Performs Out
If Ethereum does reclaim the 1W 50MA after which breaks the decrease highs at $4,200, confirming this development, then the resulting rally could be exceptional. For instance, after breaking the decrease highs, the Bitcoin value went on to succeed in new all-time highs of $69,000 in 2021. Which means that the value went from beneath $4,000 to $69,000 within the house of a yr.
Associated Studying
An identical rally would imply that the Ethereum price would rise above $10,000. Taking the identical timelines into place, it could put ETH at this value someday in 2026, a yr from when the Commerce Wars crash had occurred. A better parabolic rally and an imitation of Bitcoin’s 1,700% rally would imply a price ticket above $15,000 for the second-largest cryptocurrency within the house.
Featured picture from Dall.E, chart from TradingView.com