Ethereum performance has lagged behind the broader cryptocurrency market in recent months, with the asset failing to capitalize on the bullish momentum recently seen in the market.
While Bitcoin has repeatedly reached new all-time highs, Ethereum has struggled to break past $4,000 and remains well below its 2021 peak of $4,800.
Amid this slow recovery, a crypto analyst known as ProjectW has shared insights on the potential for Ethereum’s resurgence, urging investors to consider the long-term picture.
In a detailed post on X, ProjectW outlined several factors that could drive Ethereum’s next breakout. The analyst highlighted Ethereum’s years of accumulation within a broad trading range, suggesting that such prolonged consolidation often precedes significant price expansions.
Despite the negative sentiment around Ethereum and narratives favoring other networks like Solana, ProjectW emphasized that Ethereum’s long-term upward trend remains intact.
A possible retest of the sub-$ 3,000 range could serve as a catalyst, providing the liquidity needed to push Ethereum past $4,000 and set the stage for a broader recovery.
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ETH/BTC Performance And Outlook
A key point in ProjectW’s analysis is Ethereum’s ongoing underperformance against Bitcoin. So far, Ethereum has struggled to match Bitcoin’s gains during market rallies and has often faced steeper declines during market corrections.
This trend is reflected in the ETH/BTC trading pair, which remains in a bearish structure on higher timeframes. However, the analyst identified a potential reversal zone around $2,700 for Ethereum, which could coincide with a structural shift if ETH/BTC stabilizes at these levels.
THE BIG COMEBACK OF ETHEREUM: An Unbiased Evaluation
“Ethereum is dead. Solana stole the show.”
You’ve probably heard this take a hundred times.
The sentiment around ETH has never been worse.
And yet – if we strip away emotions and narratives – Ethereum’s long-term… pic.twitter.com/ipkXvuXbnj
— ProjectW (@fitforcrypto_) January 29, 2025
The analyst also touched on the role of market makers and institutional players in shaping Ethereum’s price trajectory. According to ProjectW, recent negative coverage of Ethereum—ranging from concerns about the Ethereum Foundation to repeated comparisons with Bitcoin—may not be coincidental.
Instead, it could represent a…
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