{"id":655406,"date":"2024-11-28T17:30:52","date_gmt":"2024-11-28T17:30:52","guid":{"rendered":"https:\/\/wncen.com\/?p=655406"},"modified":"2024-11-28T12:21:37","modified_gmt":"2024-11-28T12:21:37","slug":"ethereum-price-2017-2021-cycle","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-price-2017-2021-cycle\/","title":{"rendered":"Ethereum Price On The Verge Of Repeating 2017-2021 Cycle Breakout, Target Above $20,000"},"content":{"rendered":"
While Bitcoin (BTC) has reached new all-time highs this month, the <\/span>Ethereum price<\/span> has failed to experience a significant rally, befitting its position as the second-largest cryptocurrency by market capitalization. However, a crypto analyst suggests that this <\/span>bearish price action<\/span><\/a> could soon end, as Ethereum (ETH) appears to be repeating its breakout pattern from the 2017 to 2018 cycle. Based on this analysis, the ETH price could be on track to hit a <\/span>remarkable new price target<\/span><\/a> above $20,000.\u00a0<\/span><\/p>\n Mr Tycoon, a TradingView analyst, has <\/span>shared<\/span><\/a> his intense <\/span>bullish outlook for the Ethereum price<\/span><\/a>, suggesting that the number one altcoin in the crypto market could surge as high as $23,000 this cycle. The analyst shared his optimism about Ethereum\u2019s recent price action, emphatically declaring that the altcoin is about to \u201csend higher soon.\u201d<\/span><\/p>\n Ethereum last experienced a record-breaking price surge during the 2021 bull market, when it achieved an ATH above $4,800. The TradingView analyst has revealed that <\/span>Ethereum\u2019s fractal<\/span><\/a> in the previous bull cycle versus this current cycle follows a similar pattern, indicating an imminent rally.\u00a0<\/span><\/p>\n Mr. Tycoon presented a detailed chart comparing <\/span>Ethereum\u2019s price movements<\/span><\/a> in the 2017-2021 and 2021-2025 cycles. In the earlier four-year cycle, Ethereum hit a <\/span>macro bottom in 2019<\/span><\/a>, experiencing price fluctuations before recording a significant rally after Bitcoin broke an all-time high in 2021.<\/span><\/p>\nEthereum Price Eyes New Target Above $20,000<\/h2>\n