Ethereum’s price performance has been lackluster over the past 15 months, with a 35% decline since 2024 and a YTD return of -52%. Despite this bearish outlook, there are three Ethereum charts that might instil hope among holders.
The first chart shows Ethereum’s declining net taker volume, indicating an exhaustion of selling pressure in the market. This trend suggests that market sellers, whether institutional or retail, have completed their selling spree. A similar exhaustion of net taker volume in September 2024 led to an extended rally that pushed the Ethereum price to $4,000.
The second chart is the CME price chart, which shows four gaps that could potentially be filled if/when Ethereum forms a bottom. These gaps range from $1,763 to $3,930, with the key target and resistance zone during a recovery rally being between $2,888 and $3,327. The fourth gap is present at $3,930, which is roughly 150% away from Ethereum’s current value of $1,563.
The third chart is the most bullish, showing a Power of Three (PO3) setup that hints at a target of $9,000 to $10,000 for Ethereum. This setup involves a consolidation phase followed by a manipulation phase where the price deviates below the range, and finally a distributive phase where the price violently explodes to new highs. Analysts believe that the target for this setup could be close to $9,900, just below the psychological level of $10,000.
Despite Ethereum’s multi-year bearish performance, there are investors who believe in its potential for an explosive comeback. For example, a popular crypto trader has announced that he will be buying $1,000 worth of Ethereum every day as the price forms a range. His investment is currently up 2.3%, showing a positive outlook for Ethereum’s future performance.
However, with geopolitical and macroeconomic uncertainties looming, including Trump’s tariff wars set to restart on July 9, any Ethereum price prediction may have low conviction. It remains to be seen whether Ethereum will rise up and end its lackluster performance, but these three charts provide hope for holders and investors in the cryptocurrency.
