Ethereum (ETH) has been downwards since the end of December, faced with significant sales pressure and a negative feeling on the market concerning its performance this year. Despite Bitcoin and other altcoins showing signs of recovery, ETH has struggled to take momentum, leaving investors wondering if this will underestimate this cycle.
However, the best analysts Carl Runefelt shared valuable information on X, revealing that historical data suggest that Ethereum tends to work very optimistic in the key phases of the market cycle. Although the feeling remains in the short term, Runefelt believes that ETH is still ready for a significant increase if it follows past market.
The coming weeks will be crucial to determine the next major big step of Ethereum. If the ETH can recover key resistance levels, it could reverse its downward trend and align with the wider bullish momentum observed on the market. However, failure to gain ground could see Eth pursuing its underperformance, leading to new doubts about its role in the rally of this cycle.
With historical trends pointing towards a potential escape, all eyes are now on Ethereum’s ability to recover and confirm an upward trajectory.
February could trigger an Ethereum rally
Ethereum has struggled to gain momentum in recent months, lagging behind bitcoin and many altcoins. Compared to the previous cycles, the ETH remained disappointing, which made growing concerns that he could continue to underform throughout the year. With several fast-growing altcoins emerging and winning market share, some analysts speculate even as the position of the ETH as the second largest cryptocurrency could be at risk.
Despite the negative feeling, Ethereum could approach a key opportunity for investors. Historically, February was a solid month for the ETH, often marking the start of its parabolic move during the fourth year of the cycle in half of the bitcoin. If this trend takes place, ETH could be on the verge of a bullish turnaround despite its low performance so far.
The best analyst Carl Runefelt recently shared a table on X highlighting the historic monthly yields of Ethereum, revealing that February has always been one of the best months of ETH in previous cycles. If the ETH follows this historic model, it could prepare for a large rally, reversing its downward trend and aligns the wider bullish feeling on the market.
For the moment, Ethereum must get out of its lower structure and recover the levels of resistance of the keys. If he can do, a major rally could be on the horizon.
Ethereum fights $ 3,220
Ethereum is negotiated at $ 3,220 after days of negative feeling, volatility and uncertainty. Despite Bitcoin and other altcoins showing signs of strength, ETH has not yet confirmed a trend reversal, leaving prudent investors about its next movement.
To get out of its lower structure, ETH must exceed $ 3,220 and recover the resistance levels of the keys which previously acted as strong support for weeks. The critical area to watch is $ 3,500, because an escape above this brand would confirm the opening momentum and report the start of a new upward trend.
However, non-compliance with current levels could cause new downward pressure. If the ETH falls below $ 3,000, this could trigger a deeper correction, shake up investors’ confidence and extend the underperformance of Ethereum compared to bitcoin and other foreground altcoins.
For the moment, Ethereum remains in a crucial consolidation phase, and the coming weeks will determine whether the ETH can recover its strength or continue to fight below key resistance levels.
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