Ethereum 2017 pattern: is this a new signal for fourfold growth?

Ethereum continues to attract the attention of traders and analysts due to the emerging pattern on the chart. The current price movement displays a pattern that was last observed over seven years ago. Market professionals point to a remarkable similarity between the 2017 situation and the current market conditions, when the price increased from $56 to $1,100 within a few months. At the time of analysis, ETH is trading at around $2,120, showing a 2.74% increase over the past 24 hours.

Why is the pattern a sign of repeating history?

Analyzing historical data, well-known trader Leshka.eth identified a surprising coincidence. The pattern is not just a random coincidence of chart formations but a reproduction of the classic cycle of accumulation, breakout, and explosive growth that characterized the 2015–2018 period.

The current phase differs from the previous cycle in several key details. The accumulation period has stretched significantly longer, supply on exchanges has decreased, and institutional investor interest has increased. According to Leshka.eth, these factors create the potential for ETH to increase 3–4 times over the next six months. However, the analyst admits to some skepticism about the absolute reliability of the forecast, leaving room for alternative scenarios.

A critical level for continuing the upward trend is holding above $3,000. If this threshold is confidently surpassed, traders target levels of $3,200 and higher. Any pullback below the current level could call into question the recent progress.

ETH/BTC recovery: critical support held

Michel van de Poppe, founder of MN Fund, noted an important turning point in the ETH/BTC pair. Ethereum is showing active recovery after volatile movements last week, nearly fully compensating for losses. “This maintains a key support level,” the analyst emphasized.

Technical recovery is reflected in the price returning above the 21-week moving average, which serves as an important indicator for long-term investors. This support zone remains critical for maintaining positive momentum.

Interestingly, there is a divergence between the price indicator and derivatives activity. Ethereum remains 32% below its October all-time high, but open interest in futures markets has recovered to a maximum of around 5 million ETH. As analyst Ted commented, this indicates renewed active interest in positioning despite the price not yet reaching previous highs.

Blockchain activity and large capital movements

Data from Santiment show interesting dynamics. The number of non-zero ETH addresses has exceeded 490 million — the highest among all crypto networks. This metric indicates continuous growth in network participation from both retail investors and institutional players.

At the same time, spot ETFs for ETH have recorded a net capital outflow, which may suggest repositioning or short-term caution among large holders. Such behavior often precedes periods of market reevaluation.

The combination of these signals — technical recovery, record participation levels, and renewed interest in derivatives markets — provides a comprehensive basis for a scenario where the pattern could lead to a significant revaluation of Ethereum. However, as experienced traders emphasize, constant monitoring of key levels and risk management remain essential.