Is Ethereum bottoming out at last? Analysts weigh in

The debate over whether Ether (ETH) has reached its bottom is not over among cryptocurrency analysts, particularly after its recent underperformance against the broader crypto market.

However, ETH has since staged a 28% rebound in February, recovering from its local low of $2,150 established two weeks ago.

Let’s examine how analysts are perceiving Ethereum’s sharp price recovery.

ETH is heading toward $10,000 next

Popular analyst Crypto Yodhha shared a chart that suggests Ethereum has likely bottomed, following a structure similar to its 2019-2020 cycle before its 2,550% rally.

A key technical feature in the chart is the completion of a WXY correction pattern, a complex three-wave corrective structure in Elliott Wave Theory.

The pattern typically signals the end of prolonged market downturns by forming a W (initial drop), X (temporary relief rally), and Y (final corrective wave) before a new bullish trend emerges.

Related: Ethereum shows signs of life as holders move ETH off exchanges: Santiment

Crypto Yodhha also highlights a range breakout scenario, with ETH needing to reclaim the upper boundary near $4,600 to confirm bullish continuation.

If successful, the price could follow the previous cycle’s trajectory toward a new all-time high, projected in the $10,000-$13,000 range.

Ethereum bouncing from critical “weekly demand” zone

The Ethereum weekly chart from analyst Bottom Sniper highlights a critical support zone that could define whether ETH maintains its bullish market structure.

“The low of $880 during the bear market was between the gold/purple line and you can see 4 times not including the 2025 low it has confirmed a critical support,” said Bottom Sniper.

This zone aligns with several key confluences:

• 61.8% Fibonacci retracement (Wave 2 correction) – A historically strong support level in bullish market structures.

• Weekly demand zone – An area where buyers have previously stepped in.

• SR (Support-Resistance) Flip – A prior resistance level now acting as support.

If ETH price maintains above the zone, it could confirm a bull market continuation toward new highs, highlighted above the $4,000 area (red) in the chart above. Analyst Ted Pillows also sees $4,000 as Ether’s next upside target.

Ether is “going nowhere” for coming months

Meanwhile, TraderXO’s Ethereum daily chart suggests that ETH is back inside a three-month range that previously contained price action from August to October 2024. It shows a bracketing phase, where ETH may trade sideways until a clear breakout occurs.

Notably, a critical support level is $2,124, historically acting as a strong demand zone. If ETH revisits the support line, it could attract buyers looking to capitalize on a potential rebound, potentially toward the previous range high of around $2,850.

“Play the edge zones… and do nothing in between,” said TraderXO.

On the other hand, analyst Mister Crypto says Ethereum has bottomed out around the $2,124 level, noting a “big reversal” is next.

Stochastic RSI hints at ETH price bottom

Analyst TraderPA argues that Ether may have bottomed out against Bitcoin following the February recovery, citing the classic Stochastic relative strength index (RSI) indicator.

Notably, the Stochastic RSI indicator shows that ETH/BTC has spent exactly two years below the 20 level, historically followed by a prolonged period of Ether price gains.

The chart highlights two prior instances—2017-2019 and 2019-2021—where ETH/BTC remained oversold for two years before staging a massive rally.

In both cases, Ethereum gained over 260%-390% against Bitcoin, leading to broader altcoin strength. The current setup mirrors these past cycles, with the next two-year bullish phase projected to begin by August 2025.

Therefore, ETH/BTC could be on the verge of a sustained rally if the fractal plays out, supporting the case for Ethereum’s bottom in dollar terms as well.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.