Ethereum Could Be Mirroring Bitcoin’s 2018-2021 Cycle Amid Record Selling

Share This Post

Crypto analyst The Cryptagon has raised the possibility of the Ethereum price mirroring Bitcoin’s 2018 to 2021 cycle, which he indicated was bullish ETH. This development comes amid record selling among ETH investors, which continues to exert downward pressure on the crypto. 

Ethereum Could Be Mirroring Bitcoin’s 2018-2021 Cycle 

In a TradingView post, the Cryptagon stated that Ethereum has been repeating Bitcoin’s 2018 to 2021 cycle very closely. He remarked that ETH’s long-term holders may remain bullish just by looking at this BTC cycle, seeing as ETH could achieve a similar end result like the flagship witnessed in that cycle. 

The analyst admitted that Ethereum has been under heavy pressure since early December last year and almost touched the 12-month falling support this week. However, despite this development, the Cryptagon suggested that this is not the time to be bearish on ETH, as it could still reach new highs as it mirrors Bitcoin’s 2021 cycle

Ethereum

He noted that in the 2021 cycle, a rebound on the falling support caused a massive breakout above the falling resistance and the Bitcoin price rallied to the 1.618 Fibonacci extension. In line with this, the Cryptagon predicted that Ethereum could at least reach $8,000 in this market cycle as it repeats a similar price action. 

This bullish outlook for Ethereum comes amid record selling, which threatens any bullish reversal for ETH. In an X post, Cryptoquant founder Ki Young Ju revealed that Ethereum has faced record active selling over the past three months. 

This has contributed to ETH’s underperformance, with the altcoin being outperformed by other major altcoins like XRP and Solana over this period. While XRP touched its current all-time high (ATH) and SOL hit a new ATH, ETH has yet to come anywhere close to its current ATH. 

The Most Important Price Level For ETH At The Moment

In an X post, crypto analyst Ali Martinez, revealed that $1,887 is the most important support level for Ethereum at the moment. At this level, investors bought 1.63 million ETH. A drop below this level could lead to another massive crash for the second-largest crypto by market cap, with many of these investors possibly selling off their coins in order to cut their losses. 

Martinez has already raised the possibility of Ethereum crashing to as low as $800. He noted that the $4,000 price level had been holding a strong horizontal resistance trendline. However, ETH recently broke out of this trendline, which has significantly increased the probability of a 70% price drop to this $800 target. 

At the time of writing, the Ethereum price is trading at around $1,893, up over 1% in the last 24 hours, according to data from CoinMarketCap.

Ethereum

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Dogecoin Recovery In Sight? Key Metrics Predict A Strong Bounce

After months of struggle in gathering momentum, Dogecoin (DOGE) might be about to undergo a dramatic price reversal Monitoring the movements of the meme coin, analysts believe it has hit a turning

Republican Thomas Massie Embraces Bitcoin Amid Trump Feud Over Fiscal Clashes

US Representative Thomas Massie, a Republican hailing from Kentucky, has recently disclosed that he received more than $261,000 in contributions to his campaign This week, the staunch advocate for

US Congressman To Introduce New Crypto Bill Protecting Trump’s Strategic Bitcoin Reserve

Recent reports revealed that another member of the US House of Representatives will introduce a new bill on March 14 to codify US President Donald Trump’s executive order for a Strategic Bitcoin

North Korea’s Lazarus Group Moves 400 ETH to Tornado Cash Following $1.5B Bybit Hack

North Korea-linked Lazarus Group transferred 400 ETH (worth $750,000) to Tornado Cash on March 12, 2025, likely laundering proceeds from the record $15 billion Bybit hack, blockchain researchers

Bitcoin Boost: Cathie Wood’s Ark Invest Drops $80 Million On BTC—Bullish Signal?

According to reports, Ark Invest has added 997 Bitcoin (BTC) to its holdings in two separate transactions The asset management firm, led by Cathie Wood, made the purchases on March 13, 2025, through

Hayden Davis Faces Interpol Alert For Role In LIBRA Memecoin

An Argentine prosecutor has requested a judge to issue an Interpol “Red Notice” for Hayden Davis, an American citizen allegedly involved in the launch of the controversial LIBRA memecoin that has