Ethereum has faced lackluster price motion over the past 12 months, underperforming each Bitcoin and plenty of altcoins available in the market. Once considered a frontrunner within the crypto space, ETH has struggled to match the explosive growth seen in other digital assets, leaving many investors dissatisfied. Nevertheless, this trend may soon reverse, as ETH shows signs of preparing for a major move.
Top crypto analyst Jelle recently shared compelling insights that suggest Ethereum’s long consolidation phase could possibly be coming to an end. Based on Jelle, ETH has been trading inside a large bullish pennant for nearly 4 years, a pattern typically related to major breakouts. Moreover, all local lows inside this structure have already been swept, potentially clearing the best way for a bullish surge.
The broader market sentiment can also be turning optimistic, fueled by the inauguration of President Trump’s pro-crypto administration. With policies expected to create a positive environment for cryptocurrencies, Ethereum is well-positioned to capitalize on this momentum.
Is Ethereum A Sleeping Giant?
Ethereum has been underperforming in comparison with Bitcoin and fast-rising altcoins like Solana, creating speculation that ETH is lagging behind the broader crypto market. As other assets rally, Ethereum’s slow price motion has left investors questioning its position on this cycle. Nevertheless, many analysts imagine this underperformance is temporary and that ETH is a sleeping giant poised for a large bullish phase.
Top crypto analyst Jelle has added to the optimism, sharing technical insights on X that time to Ethereum’s long-term potential. Based on Jelle, ETH has been consolidating inside a large bullish pennant for nearly 4 years. This pattern is usually related to major breakouts, and with all local lows already swept, ETH appears primed for a major move.
Jelle’s evaluation doesn’t stop on the charts. He highlights intriguing developments within the broader narrative, stating, “The U.S. government is talking a few crypto stockpile, while the president keeps buying ETH heavily.” This implies that ETH could play a strategic role within the evolving financial landscape, with institutional and governmental interest potentially driving demand.
For now, Ethereum stays a “sleeping giant,” but analysts are confident that when it wakes, it would reclaim its position as a number one force within the crypto market. With technical setups aligning and market sentiment shifting, Ethereum could also be on the verge of a breakout that propels it back into the highlight. Investors are watching closely, as the following move could define ETH’s trajectory for months to return.
ETH Holding Key Demand Levels
Ethereum (ETH) is currently trading at $3,390, holding above key demand levels after breaking above the 4-hour 200 moving average. This recent move has sparked optimism amongst traders, because the 200 MA often serves as a critical indicator of trend reversals. If ETH can maintain its position above $3,367, the worth is well-positioned for a bullish continuation within the short term.
The subsequent key level for ETH is the local high at $3,525. Breaking above this resistance would supply a robust confirmation of a latest bullish trend and will pave the best way for further upward momentum. A successful push above this level would likely attract additional buying interest, reinforcing confidence in Ethereum’s ability to regain strength.
Nevertheless, the bullish outlook shouldn’t be without risks. If ETH fails to carry above the $3,367 mark and loses the $3,200 level in the approaching days, it could signal a return to consolidation or perhaps a deeper correction. Such a move would challenge the present sentiment and delay Ethereum’s potential breakout.
Featured image from Dall-E, chart from TradingView