After a significant drop below $3,000, Ethereum has quickly rebounded, drawing parallels to its 2021 trajectory. Analysts remain optimistic about a potential massive rally for Ethereum in the near future.
During a weekend decline, Ethereum fell to its lowest price since November, testing critical support levels. However, it soon bounced back, pushing its price to the $3,100-$3,200 range.
Crypto investor Miky Bull highlights Ethereum's inverse head and shoulders pattern, suggesting a bullish setup targeting the $7,000 mark.
Analyst Crypto Bullet notes similarities with Ethereum's Double Top pattern from 2021, indicating a possible return to all-time highs.
Despite early setbacks in 2024, Ethereum is poised for a positive turn, with analysts advising a cautious look at quarterly returns for broader insights.
