The Ethereum price has not been immune to the sharp downturn that swept through the broader crypto market over the weekend. Selling pressure intensified into Monday, pushing the second‑largest crypto down toward the $2,150 level at its lows.
Even so, some analysts remain confident that Ethereum’s longer‑term structure still points to significantly higher prices.
Ethereum Price Builds Long‑Term Breakout PressureAccording to an analysis shared by market commentator Bitcoinsensus on the social media platform X (previously Twitter), the Ethereum price has been moving sideways on the weekly chart within a compression pattern that has been forming for roughly four years.
From current prices around $2,337 at the time of writing, such a move would represent a gain of roughly 200%. However, the analysis also carries a note of caution.
Despite the bullish long‑term outlook, the Ethereum price may not move higher in a straight line. The analyst warned that price could first revisit the lower boundary of the compression channel, which sits near $1,700 on the weekly chart.
Such a drop would further widen the gap between current prices and Ethereum’s all‑time high of $4,946, which was set last year. At present, ETH remains roughly 53% below that peak.
Next Growth PhaseThey argued that growth may come not only from increased network usage, but also from rising interest among institutions and corporate treasuries looking to gain exposure to digital assets.
Staking is another area that could enhance Ethereum’s appeal. As a proof‑of‑stake network, Ethereum allows holders to earn rewards by locking up their tokens. Currently, most spot Ethereum exchange‑traded funds (ETFs) do not offer staking rewards, but that could change.
In December, BlackRock filed paperwork with the US Securities and Exchange Commission (SEC) for a staked Ethereum ETF, a move that the analysts believe could open the door to broader participation in staking through regulated investment products.
Featured image from OpenArt, chart from TradingView.com
