Ethereum’s native token surged toward a six-week peak of roughly $1,950 following a sub-CPI crypto rally, recovering nearly 30% in value since reaching a multi-year low of $1,510 weeks ago. The asset has since fallen below $1,900. Analyst Crypto Rover warns this minor rejection may precede a major crash, citing a repeating 1,369-day pattern leading to devastating sell-offs. However, analyst Michaël van de Poppe views the move as "phenomenal" and does not foresee significant new lows, pointing to on-chain data suggesting a "buy-the-dip" regime with targets around $2,500-$2,700 by early Q4.
Ethereum’s native token rode the sub-CPI crypto rally toward a six-week peak of roughly $1,950. This represented a recovery of nearly 30% in value since its multi-year low of $1,510 was reached weeks ago.
The asset’s run was halted at that level, and it now stands below $1,900. According to analyst Crypto Rover, this minor rejection might be just the beginning.
While observing ETH’s macro picture, the analyst outlined a pattern the asset tends to follow: a precise 1,369-day repeating occurrence. Rover speculated that “Ethereum may be heading for its biggest crash yet,” as this historical pattern maps out two “devastating sell-offs” incurred at approximately this time of each cycle.
Both sell-offs began after similar rallies like the recent 30% surge, but subsequent rejections pushed the altcoin south to new local lows. If this scenario plays out, ETH could dump to and even below $1,500, marking a new multi-year low. The other side of this pattern shows a spectacular long-term run following such capitulation, with Rover’s analysis outlining targets in five-digit territory at $10,000.
Fellow analyst Michaël van de Poppe also weighed in on ETH’s move above $1,900, calling it “phenomenal.” He does not see such a doomsday scenario, stating he doubts there will be “a lot more new lows coming in on the markets,” as the on-chain data he reviews points in the opposite direction. “There’s a lot more upside going to come on this one, and I think it’s simply in a ‘buy-the-dip’ regime,” he added.
His focus was on ETH’s short-term performance, and the chart he detailed envisions targets of around $2,500-$2,700 by the start of Q4.
