Bullish momentum continues to rise in the market, and Ethereum seems to have found stability as the second-largest digital asset extends its renewed upward trend, breaking past the $2,500 mark. After several months of bearish performance, ETH has finally entered its next bull phase that would potentially lead to this cycle peak.
Cycle Top In Focus As Ethereum Impulsive Phase Begins
As Ethereum gains significant upward traction, recent developments point to a sustained bullish move toward higher price levels. Crypto analyst and investor Trader Tardigrade predicts a potential continuation of the ongoing uptrend to a cycle peak as the altcoin’s price dynamics make a major shift.
Following his analysis of ETH’s current price action, Trader Tardigrades reveals that the asset has entered a fresh impulsive phase, characterized by strong upward momentum and decisive price performance. ETH’s shift into the impulsive phase hints at the possible beginning of the final leg up in the ongoing bull market cycle.
This renewed move is slowly aligning with historical patterns that previously preceded a robust rally, reflecting the strength of the new impulsive phase. With ETH breaking through crucial resistance levels and the market growing, this favorable environment is likely to improve the sustainability of the recent uptrend toward higher levels.
According to the expert, the altcoin’s price action is performing similarly to the last cycle trend from 2020 to 2021, which led to the current all-time high. Should Ethereum perform as well as the 2020-2021 market cycle, this impulsive rally will lead all the way to a cycle top.Â
Trader Tardigrade has placed this cycle peak at the $23,818 level, hitting the 2.618 Fibonacci level. This anticipated substantial growth represents a more than 900% upswing from the current price level.
Prior to his cycle top analysis, Trader Tardigrade already hinted at the potential of a sustained upward performance as he predicted an impending bull run for ETH within the year. His forecast is based on past cycle trends, particularly the 2020 season, where the last bull market phase began.
Looking at the chart, Ethereum’s last bull market phase began in March 2020 as the altcoin broke out from a Triangle formation after a period of consolidation within the pattern. Presently, ETH has made a similar move, breaking out of the same triangle pattern, which triggered the ongoing upward trend. Thus, Trader Tardgirade claims that the 2025 bull run has begun, hinting at a move to a new all-time high as seen in the 2020 cycle.
ETH Breaks Above Crucial Resistance Level
Given ETH’s move past key resistance zones, Ali Martinez, a market expert, has predicted a continued bullish performance for the altcoin. A few days ago, Ali Martinez pointed out the $2,380 level as a crucial resistance area that will spark a bull run for Ethereum once it breaks past it.
Presently, Ethereum has broken above this critical supply barrier. According to the expert, if ETH surpasses this level, it will ignite a new bull rally, which indicates that the ongoing rally might not stop soon.
Featured image from Pixabay, chart from Tradingview.com
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