Don’t ignore this ETH strength.” CryptoBulllet further emphasized that Ethereum’s ability to hold its position above key resistance levels is a strong indicator of bullish momentum, suggesting that a significant price movement could be on the horizon.$ETH 1W update Second consecutive weekly candle closed above the Resistance 👌😁 The shape of the candle and overall environment reminds me of January 2021 We might wick to $3700 this week but it will be bought back up quickly 📈 Don’t ignore this #ETH strength! pic.twitter.com/29bs5aTUd3 — CryptoBullet (@CryptoBullet1) December 16, 2024 Titan of Crypto, another renowned analyst in the community echoed this optimism, noting Ethereum’s highest weekly candle close since 2021 as a major milestone.
Related Reading: Ethereum Battles Bearish Retail Sentiment Amid Surging ETF Demand Retest Before The Major Rally One notable analyst, CryptoBullet, shared his insights on X, drawing comparisons between the current market environment and Ethereum’s January 2021 rally.
"A successful retest could propel it to its previous ATH and beyond.” These observations indicate growing confidence among market participants that Ethereum could soon reclaim its all-time high of $4,878, last achieved in November 2021.
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