Ethereum back from the dead claims reputed crypto analyst.
The price of ETH is now entering a bullish range and prepares to pump.
The next bull target for ETH sits at $2,800.
The pioneer altcoin Ethereum (ETH) has had a slow start this bull cycle. After much painful waiting, news of the Pectra Upgrade and Bitcoin correcting for a healthy crypto market seems to have finally triggered ETHs bull pump. Many are happy to see Ethereum back from the dead as analysts confirm that ETH has entered into a bullish range once again. The next bull target for ETH stands at $2,800.
Ethereum Back From the Dead
Since the new bull cycle began, it was a clear expectation for Ethereum (ETH), the pioneer altcoin asset, to lead the altseason peak phase, as ETH had done previously for other bull cycles. What’s more, the peak phase of altseason was expected to arrive in Q1 of 2025, as in previous bull cycles, this altseason peak phase always occurred in Q1 following a Bitcoin Halving year.
However, this year did now play out as expected, leading to many analysts and traders questioning if the 4-year bull cycle was still in play or if it had gone obsolete. A majority of the crypto community believes that altseason was simply delayed as this bull cycle, BTC pumped hard and fast, which made a correction phase for a healthy bull market a necessity. Thus, Bitcoin went into a prolonged correction phase to finally recover and set a healthy crypto market in Q2.
This is when both the price of BTC and ETH finally recovered to bullish prices. For BTC, it reclaimed 6-digit prices, and for ETH, it reclaimed a price above $2,000 and $2,500 in rapid succession. Now, analysts expect another short price dip that will pull BTC and ETH prices low momentarily, leading many opportunists to place short orders and reap the benefits of a short market dip.
$2,800 Next ETH Bull Target
https://twitter.com/Washigorira/status/1923069994914447574
Despite the calls for a short dip, expectations are still high for both ETH and BTC to hit new ATH targets soon. For BTC, its current ATH target lies at $109,000, and for ETH, its current ATH target sits at $4,800. As we can see from the post above, this reputed analyst is pleased to see ETH’s bullish recovery and commends the pioneer altcoin asset for showing strength and resilience in the face of scrutiny.
https://twitter.com/cryptojack/status/1922676777962364947
While both assets still have a decent ways to go before reclaiming ATH prices, analysts remain positively bullish on BTC and ETH hitting new ATH prices soon. In particular, for Ethereum (ETH), the analyst in the post above says that an ETH monthly breakout is currently playing out, and that this breakout could propel the price of ETH to its next bull target at $2,800.
