Ethereum Price Surpasses $3,000 Amid 2017 Pattern Resurgence
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 1h ago- Price Recovery: Ethereum (ETH) has crossed back above $3,000, rising nearly 4% in the past 24 hours, reflecting optimistic market sentiment that may signal the beginning of a new upward trend.
- Historical Pattern Resurgence: Analyst Leshka.eth identified similarities between Ethereum's current ETH/BTC chart and the structure from 2015-2018, suggesting a potential accumulation, breakout, and retest pattern that could see ETH rise 3 to 4 times in the next six months.
- Support Level Maintained: Michaël van de Poppe, founder of MN Fund, noted that Ethereum has nearly reclaimed its losses from last week and is holding at a crucial support level, providing a foundation for potential price increases.
- Wallet Growth: On-chain data indicates that non-empty Ethereum wallets have surpassed 175 million, the highest across all crypto networks, suggesting increased market participation and confidence in Ethereum's future prospects.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
