Key Points
- Ethereum (ETH) struggles to maintain its support at $2,700 amidst Bitcoin’s (BTC) crash under $97,000.
- Analysts predict a bullish opportunity for Ethereum, with potential targets ranging from $4,000 to $8,546.
Bitcoin’s (BTC) recent dip under the $97,000 mark has caused Ethereum (ETH) to struggle in maintaining its support at $2,700. After a 24-hour drop of 4.26%, Ethereum is currently trading at a market price of $2,720.
Bitcoin’s dominance is at 60.86%, while Ethereum’s has slipped to 10.36%. The question now is whether Ethereum’s constant bullish failures will prolong its downfall, or if this is the last chance to buy Ethereum under $3,000.
Weekly Chart Analysis for Ethereum
A popular crypto analyst, known as the Titan of Crypto, has pointed out a bullish opportunity for Ethereum. The current weekly candle is forming the third higher low from a critical support trendline, signaling a bullish reversal.
The massive tail formation in the weekly candle reveals strong support at lower levels. The support trendline is part of a broadening wedge pattern, with the upper trendline projecting the first target level of $5,338. This coincides with the 100% Fibonacci level, suggesting a potential new all-time high.
If the bull run continues, the 161.80% and 200% Fibonacci levels at $7,321 and $8,546 become the primary and tertiary target levels. This optimistic projection is based on the continuous high-low formation on the weekly chart, ongoing since late 2022.
Historical Ethereum Trends
Crypto analyst Ted Pillows presents another bullish scenario for Ethereum. Over the past year, the Ethereum price trend has formed three long-tailed weekly candles, marking a bottom near the $2,000 psychological level. These occurrences happened in Q1 2024, Q3 2024, and Q1 2025.
Historically, Ethereum has surged nearly 90-100% over 8-12 weeks after forming such patterns. If this historical price trend continues, Ethereum is likely to break past the $4,000 psychological resistance. According to Ted Pillows’ analysis, the breakout rally could extend to $8,000.
Crypto analyst Crypto Rover highlighted a triangle pattern, drawing parallels with Ethereum’s historical price action. The 2024-25 price trend seems to mirror this pattern, suggesting a potential breakout rally. With recent lower price rejections signaling a bullish comeback, Ethereum could be on the verge of repeating the 2021 bull run.
Institutional Accumulation
Institutions continue to buy Ethereum aggressively, fueling speculation about a massive rally. It was highlighted that institutions have purchased over $500 million worth of Ethereum through ETFs. On February 6th, the daily total net inflow for US Ethereum spot ETFs stood at $10.65 million. BlackRock was the only ETF with an inflow of $10.65 million. This marks the sixth consecutive positive day for Ethereum ETFs.
However, the bullish outlook is not without risks. Independent crypto analyst Ali Martinez pointed out a bearish signal in the market-value-to-real-value (MVRV) momentum oscillator. In February 2025, the MVRV momentum oscillator turned negative — a move that previously led to Ethereum’s slump in August 2024. This indicator suggests short-term downside risks, despite the larger bullish trend.
Ethereum’s price action presents a crucial opportunity, as analysts highlight strong bullish setups across weekly and daily timeframes. Institutional accumulation, led by BlackRock’s continued ETF inflows, reinforces the long-term bullish outlook. However, bearish signals from the MVRV momentum oscillator hint at potential short-term risks. Ethereum’s ability to hold above $2,700 will determine if this is the last chance to buy under $3,000 or if further correction awaits before the next leg up.
