Ethereum’s price has changed significantly in the last seven days. nothing short of interesting. The leading altcoin, which has been trading since 2021, is now above the $4,200 mark, and for the first-time in December 2024, it’s surpassed the $4,000 level.
Data from the on-chain shows the break out has instilled confidence, particularly amongst retail traders. Ethereum’s technical setup and comparisons Bitcoins are showing signs that they could be on the verge of the biggest rally in their history.
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Ethereum Fractal Signals Rally of 1,110%
Technical analysis on Ethereum’s weekly candlestick chart shows that the altcoin could be about to embark on a rally of 1,110%, which might push its price to $20,000. This analysis was initially noted by Crypto analyst Merlijn The Trade, identified a cycle which closely aligns Ethereum’s current performance to Bitcoin’s run from 2018-2021.
The analyst pointed out on social media platform X that Bitcoin had suffered a 83% fall from its previous highs, before staging a massive 342% recover. Then, a second correction around 63% followed. This served as the basis for an 1,110% increase between the 2nd half of 2020 to the 1st half of 2021.
Weekly chart of Ethereum has been following In the past couple of years, the sequence has almost been the same. Ethereum experienced a sharp 83% drop from its peak in 2021, but then mounted a 3422% recovery, before experiencing a 63% retracement to $1.500 by April 2025. Ethereum, however, has since mounted a second rebound. with the latest move The most recent rise above $4,200.
Image From X: Merlijn The Trader
Ethereum’s latest rally is a sign that it has reached the end of its journey. It could now be in a position to make exploding runs to up to $20,000.
Merlijn the Trader has also noted that Ethereum’s chart is showing a weekly trend. is echoing its own 2017 breakout structure. Ethereum recovered the 50-week average in that cycle after a long consolidation period before entering a powerful and sustained rally. In 2025, the chart shows the same reclaiming of the 50 MA and price. now breaking above the A $4,000 barrier zone has existed since March 20, 2024.
Image From X: Merlijn The Trader
Bullish Sentiment Building Above $4,000
Ethereum’s recent rally in price can be explained by a few factors. attributed to institutional buys The breakout of Spot Ethereum ETFs above $4,000 was not unnoticed by the wider market. Notably, data from Santiment, an on-chain analysis platform, reveals a sharp increase in bullish behavior across all social media channels.
Now, there has been a sharp increase in the number of comments relating to purchasing, optimism, or higher price expectations. outpacing bearish commentary Selling or lowering price calls almost by two to one. While this may create conditions for Ethereum’s rally to continue, too much FOMO will also prevent any rally from gaining momentum.
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Ethereum, at the time this article is written, has risen by 23 percent in the last seven days.
Chart by TradingView. Image from Unsplash.
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Source: www.newsbtc.com
