As Ethereum price climbed above the $2,000 mark, theories for a mega rally have taken a life of their own. Analysts say the bottom may be priced in for Ethereum (ETH) amid a wave of dour reports for the asset.
Ethereum Price Is On Course To Record New Highs
Ethereum is staging a strong recovery since it slipped below the $2,000 mark in early March. Several analysts say a rally for the largest altcoin is in the offing, citing a slew of technical indicators.
Pseudonymous crypto analyst Master Kenobi disclosed on X that indicators suggest that the bottom is already in for Ethereum’s price. Master Kenobi hinged his theory on a previous pattern from 2020 and the subsequent rally that followed for Ethereum.
According to Master Kenobi, a steep Ethereum price crash in 2020 laid the foundation for an all-time high with the analyst identifying a similar pattern in 2025.
“An identical ABCDE formation of roughly equal duration concluded with an induced panic crash exactly five years later,” said Master Kenobi.#
Master Kenobi highlighted a long-range hidden bullish divergence that is suggestive of weakening downward pressure for the Ethereum price. Since ETH slipped below $2K, selling pressure for Ethereum reached frantic levels, sparking outflows from ETFs running into a small fortune.
Several Dour Reports Threaten ETH’s Recovery
Despite the predictions for a rally, Ethereum price can experience a slump, ruining the party for investors. Standard Chartered slashed its ETH 2025 target by a jarring 60% from $10,000, casting a shadow of doubt on future price movement.
Apart from the recalibration of Standard Chartered’s end-of-year prediction, Ethereum DeFi lost $29 billion from its ecosystem over 30 days. There are whispers that the Ethereum price can reach $5,000 following the Pectra upgrade to the test net but a crash to $1,600 remains a plausibility.
At the moment, Ethereum is trading at $2,020 and is up by 4.40% over the last day. Daily trading volumes have spiked by 92% over 24 hours, settling at 20.27 billion in defiance of the grim reports for Ethereum.
The post Ethereum Price Stages Recovery As Analysts Claim The Bottom Is In appeared first on CoinGape.
