Veteran Analyst: This Altcoin Reflects Old Bullish Patterns, Run Imminent!
According to veteran technical analyst Yashu Gola, Ethereum (ETH) is retesting a historic support level, a 5-year trendline. The analyst notes that this support level has triggered past rallies for the leading altcoin. Additionally, upcoming catalysts such as Ethereum’s Pectra upgrade and Wall Street move could also trigger a recovery.
Ethereum mirrors 2017 bull run setup!
A historical comparison between the altcoin’s price action in 2017 and its 2025 structure points to a potential breakout. The chart highlights the five-wave accumulation pattern that preceded ETH’s 50x explosion in 2017. The emergence of a similar structure in 2025 suggests that Ethereum could be on the verge of another parabolic move.
The ICO boom fueled ETH’s 2017 bull run. In the process, developers launched token sales on the Ethereum blockchain. This massive influx of capital propelled ETH from under $10 to over $1,400 in a year. ICOs are no longer the primary driver. However, favorable U.S. policies and Ethereum’s apparent Wall Street expansion could fuel a 2025 recovery rally.
He also stated that following Ethereum's rise, SHIB coin will establish its old resistance level and reach the 0.000096 band.
Leading altcoin retests 5-year trendline
Ethereum’s price action over the past five years has consistently aligned with an ascending trendline that it is currently retesting. This multi-year support level has previously marked major cycle bottoms, including the March 2020 crash and the post-FTX crash in 2022.
