Ethereum’s Cycle Resembles Bitcoin’s Pre-Breakout Phase

News, Trending

ETH-8

  • Ethereum dropped 10.07%, mirroring Bitcoin’s past cycle before a breakout.
  • Trading volume surged as Ethereum lost 12% in a week, sparking uncertainty.
  • Historical patterns suggest Ethereum may be primed for a major rally soon.

Ethereum—ETH, just took a hit. A sharp 10.07% drop sent the price to $2,933.47, marking the biggest single-day loss since August 2024. Market capitalization plunged to $354.13 billion, a steep fall from the previous peak of $569.58 billion. The crypto space thrives on volatility, and sharp declines often lead to explosive gains. Ethereum’s cycle now mirrors Bitcoin’s behavior before a breakout. Could this be the calm before the storm?

https://twitter.com/Washigorira/status/1886723169823649874

Ethereum’s Market Struggles and High Trading Activity

Massive sell-offs shook the crypto market. Ethereum lost 12% over the past week, fueling fear among investors. Trading volume soared to $32.48 billion in 24 hours, making up 13.64% of the total crypto market activity. Prices fluctuated between $2,932.96 and $3,163.03, leaving traders uncertain about the next move. Other major cryptocurrencies also faced losses. Bitcoin fell 4.66% to $97,250.1, while XRP took a bigger hit, dropping 14.82% to $2.5494. Bitcoin remained dominant, holding 101.09% of the total crypto market capitalization.

Ethereum’s Potential for a Breakout

Ethereum still holds strong despite the downturn. The price remains 39.69% below the all-time high of $4,864.06. Sharp corrections like this have often led to major rallies in past market cycles. Bitcoin followed a similar pattern before historic breakouts. Deep retracements created fear, only for a sudden surge to catch traders off guard.

Many saw losses as a warning, while others recognized an opportunity. Ethereum’s current cycle looks eerily familiar. If history repeats, Ethereum may be gearing up for a powerful move. Patterns suggest a breakout could be near. Traders watching closely may witness a shift that takes the market by surprise.

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