Ethereum Price On The Verge Of Repeating 2017-2021 Cycle Breakout, Target Above $20,000

A crypto analyst believes Ethereum's bearish price action could soon end, as it appears to be repeating its breakout pattern from the 2017-2018 cycle. This could lead to a significant rally, with the ETH price potentially hitting a new target above $20,000. Mr. Tycoon, a TradingView analyst, shared his bullish outlook, suggesting Ethereum could surge as high as $23,000 this cycle. Ethereum's fractal in the previous bull cycle versus this current cycle follows a similar pattern, indicating an imminent rally. The analyst presented a chart comparing Ethereum's price movements in the 2017-2021 and 2021-2025 cycles, showing a similar pattern. Historically, Ethereum starts pumping after Bitcoin enters a price discovery, which implies that Bitcoin leads the market cycles. With Bitcoin reaching an all-time high, Ethereum tends to follow with a notable rally. Mr. Tycoon predicts a significant price increase for Ethereum, suggesting it could surge past previous all-time highs and rise above $23,000. Another analyst, Crypto Ash, projects a rally to $10,000 or $15,000 is highly probable for Ethereum this bull cycle, with December 2024 being a prime entry point for investors. Historically, Ethereum has experienced significant price growth from January to April after each Bitcoin halving year, making it a good time to start accumulating ETH tokens.