Ethereum Is Repeating The Same Trend That Led To A 5,000% Breakout In 2017

The Ethereum price has been mirroring the trend seen in 2016-2017, which could indicate that the current rally is only just beginning. In 2017, Ethereum struggled to keep up with Bitcoin's price, resulting in a lag and fakeouts before a breakout. Similarly, Ethereum has ranged for the last year with multiple fakeouts, followed by a 50% crash, creating a bear trap. Crypto analyst Merlijn The Trader notes the similarities between the 2016-2017 chart and the current one, suggesting that the next phase of the trend will follow the same playbook. After the breakout in 2017, Ethereum's price rallied by 5,000%, and applying a similar structure to the current market could mean a rise to $40,000. However, a more conservative target would be crossing the $10,000 level, a 200% increase from its current level. This could play out in the next six months, similar to the 2017 timeframe. Ethereum now has institutional backing, with over $7 billion invested in ETH treasury companies and $2 billion flowing into Spot Ethereum ETFs in July 2025 alone. This rise in institutional investments suggests higher liquidity and could drive the ETH price this cycle. Institutions are now behind the wheel, with the same setup as in 2017, which could lead to a significant price increase.