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Is Ethereum ‘Most Hated Rally’ About To Begin? Analyst Finds Bitcoin Cycle Similarities

After a relatively subdued price performance in 2024, Ethereum (ETH) could be on the verge of a significant breakout. A recent analysis by a well-known crypto analyst suggests that the second-largest digital asset may soon enter what they call its “most hated rally.”

Is It Finally Ethereum’s Time To Shine?

Since reaching its all-time high (ATH) of $4,878 in November 2021, Ethereum has struggled to regain momentum, while other cryptocurrencies such as Solana (SOL), SUI, and XRP have delivered substantial returns to investors.

Currently, ETH is trading at $2,649 – only 5.5% higher than its price exactly one year ago. In stark contrast, XRP has surged an astonishing 365% during the same period. Even Bitcoin (BTC), despite its much larger market cap, has recorded a 100% gain in the past year.

As a result, investor confidence in ETH appears to be dwindling. Recent on-chain analysis indicates that ETH ‘whales’ – wallets with significant ETH holdings – have been offloading, even at a loss.

However, this trend could change dramatically. According to crypto analyst Titan of Crypto, Ethereum’s “most hated rally” could be just around the corner.

The analyst draws parallels between Ethereum’s current price action and Bitcoin’s behaviour during its third market cycle between 2018 and 2020. The weekly chart below illustrates the striking similarities between the two assets.

titan

According to the analysis, Ethereum is currently in what is known as the “manipulation phase.” If history repeats itself, ETH is likely to enter the “run-up phase” once it decisively breaks through the “re-accumulation phase.” 

Notably, the chart also highlights that ETH has faced rejection at a crucial resistance level around $4,000 exactly three times – mirroring Bitcoin’s behaviour during its third market cycle before eventually breaking out.

Similarly, another crypto analyst, Ted, has compared Ethereum’s price chart to that of XRP. He notes that XRP remained in a consolidation phase for nearly three years, experiencing little to no price movement, only to surge by 250% within just five weeks.

ted

Bullish Signs For Ethereum

Despite hedge funds holding a large short position on ETH due to its recent subpar price performance, analysts are optimistic that 2025 will bring joy to the ETH bulls.

For instance, recent analysis by crypto analyst Kiu_Coin suggests that ETH is on the cusp of an explosive price rally that may send it to $17,000. Another report published in January 2025 projects ETH price to climb to $8,000, outperforming BTC.

Another sign of growing confidence in Ethereum is the increasing capital inflow into Ethereum exchange-traded funds (ETFs), outpacing Bitcoin ETFs in recent weeks. This trend indicates renewed optimism and a possible capital rotation into ETH. At press time, ETH trades at $2,649, down 1.1% in the past 24 hours.

ethereum


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