Ethereum prepares to bounce back after bottoming out.
Analysts highlight bullish pennant with $8,000 ATH target.
Ethereum hitting a new ATH will likely trigger altseason’s arrival.
While Bitcoin works to reclaim its 6-digit prices, it continues to hold the $94,000 to $95,000 price range, giving altcoins the time to rally and hit higher highs. Leading the pack is Ethereum (ETH), the pioneer crypto altcoin and analysts see how Ethereum prepares to bounce back after bottoming out. Analysts also highlights a bullish pennant forming with a $8,000 ATH target for ETH.
Ethereum Prepares to Bounce Back After Bottoming Out
Ethereum is expected to lead the altseason peak phase this bull cycle, and analysts are awaiting ETH to hit a new ATH soon. Analysts expect a new ETH ATH to be the much needed trigger event that will finally usher in this bull cycle’s altseason peak phase. What’s more, altseason peak was expected to arrive in Q1 of 2025 but has since been delayed due to two possibilities.
The reason behind this delayed altseason has been attributed to two possible scenarios. This first is that the rapid pump of Bitcoin so early in the bull cycle led to a much needed prolonged crypto market correction, and Bitcoin and altcoin prices declined before slowly recovering in Q2 of 2025. The other reason could be that the 4-year bull cycle has come to an end, meaning analysts have to resort to taking closer looks at price charts to predict what’s to come next.
https://twitter.com/Washigorira/status/1916147979305599022
As we can see from the post above, this reputed analyst identifies a bullish indicator printing on the Ethereum (ETH) price chart. The analyst goes on to highlight that ETH price is bouncing back just as he expected. He then confirms that ETH is bouncing back and is set to reclaim its previous ATH prices which according to CoinMarketCap analytics is at $4,891 a decent way away from its current price of $1,802.
Bullish ETH Pennant Sets Next ATH at $8,000
https://twitter.com/MerlijnTrader/status/1916190543878422981
Analysts highlight several bullish indicators on the Ethereum (ETH) price chart. As we can see from the post above, this analyst draws light to the fact that many traders are giving up on ETH but says that the ETH price chart is showing a very bullish pennant as a bullish price signal. Based on a multi-year bullish sign, the analyst concludes that ETH is set to hit a new ATH at $8,000 confirming that this explosive potential will arrive in only a matter of time.
