Is The Ethereum Bull Cycle Over? Analyst Identifies Potential ‘Double Top’ Pattern
The cryptocurrency market has not had its typical “Uptober” efficiency to date this month, with most large-cap property falling to new native lows up to now few months. The Ethereum worth, which was on the verge of hitting $5,000 a number of weeks in the past, is now languishing beneath the $4,000 mark.
Whereas the “king of altcoins” had a stop-start efficiency over the previous week, its worth appears to be in a greater place than it was seven days in the past. Nonetheless, an attention-grabbing outlook has emerged for the Ethereum worth, with the altcoin believed to have already reached its peak on this cycle.
How Possible Is A Double Prime For ETH Worth?
In style crypto analyst Ali Martinez not too long ago took to the social media platform X to share insights into the present setup of the Ethereum worth. Based on the market pundit, the second-largest cryptocurrency might be in for an prolonged bearish interval over the subsequent few weeks.
This analysis revolves across the potential formation of the “double high” sample on the 3-day timeframe of the Ethereum chart. For context, the double high formation is a technical evaluation sample suggesting a doable bearish development reversal after an asset’s worth touches a resistance degree with out breaking by way of.
As noticed within the chart above, the preliminary high got here round late 2021 through the altcoin season when the value of ETH rose to the then-all-time excessive of above $4,800. This worth peak was adopted by a market crash, which noticed the worth of Ethereum drop to across the $1,000 mark by mid-2026.
In the meantime, the purported second high of this Ethereum worth setup is the present all-time excessive of $4,946, reached earlier in August 2025. Based on knowledge from CoinGecko, the altcoin’s worth is at present greater than 20% adrift from this report excessive.
Whereas the 2 tops (almost 4 years) look considerably similar, the value motion between them makes it difficult to definitively name them a “double high” sample. Furthermore, the double top can solely be confirmed when the value drops beneath the assist degree, which generally is the bottom level between the 2 peaks. This assist degree would then be at round $1,000, which is a big distance from the present worth level.
However, you will need to take note of the value motion of ETH over the subsequent few weeks, because it may present perception into the coin’s future relative to this setup.
Ethereum Worth At A Look
As of this writing, the value of ETH stands at round $3,983, reflecting an virtually 3% soar up to now 24 hours.
