🪙 WHY DID #ETH RECOVER?
The situation around Ethereum has confused many. Ever since mid-last year, holders have been frustrated with the coin’s price action. The peak of the community’s frustration came between February and April this year, when ETH dropped below $2,000 🔽.
However, after a wave of angry comments across crypto channels calling Ethereum “a trash coin and a scam 😡,” the price bounced back — rallying roughly +183% from the lows. It has now returned to the same levels where the December 2024 drop began.
On the weekly chart, we can spot a classic “shakeout” pattern. ETH consolidated in a wide range between ~$2,200 and ~$4,000, then dropped below the range earlier this year to grab liquidity.
Now, the price is hunting stop losses and liquidations above the ~$4,000 level. This kind of range-expansion pattern is very common in crypto markets.
☝️ In short, both the fundamentals and technicals are aligning. And right now, they’re both pointing to a breakout above ~$4,000.
