Is The Ethereum Bull Cycle Over? Analyst Identifies Potential ‘Double Top’ Pattern

2 hours ago

The cryptocurrency marketplace has not had its emblematic “Uptober” show truthful acold this month, with most large-cap assets falling to caller section lows successful the past fewer months. The Ethereum price, which was connected the verge of hitting $5,000 a fewer weeks ago, is present languishing beneath the $4,000 mark.

While the “king of altcoins” had a stop-start show implicit the past week, its terms seems to beryllium successful a amended spot than it was 7 days ago. However, an absorbing outlook has emerged for the Ethereum price, with the altcoin believed to person already reached its highest successful this cycle.

How Feasible Is A Double Top For ETH Price?

Popular crypto expert Ali Martinez precocious took to the societal media level X to share insights into the existent setup of the Ethereum price. According to the marketplace pundit, the second-largest cryptocurrency could beryllium successful for an extended bearish play implicit the adjacent fewer weeks.

This valuation revolves astir the imaginable enactment of the “double top” signifier connected the 3-day timeframe of the Ethereum chart. For context, the treble apical enactment is simply a method investigation signifier suggesting a imaginable bearish inclination reversal aft an asset’s terms touches a absorption level without breaking through.

As observed successful the illustration above, the archetypal apical came astir precocious 2021 during the altcoin play erstwhile the terms of ETH roseate to the then-all-time precocious of supra $4,800. This terms highest was followed by a marketplace crash, which saw the worth of Ethereum driblet to astir the $1,000 people by mid-2026.

Meanwhile, the purported 2nd apical of this Ethereum terms setup is the existent all-time precocious of $4,946, reached earlier successful August 2025. According to information from CoinGecko, the altcoin’s worth is presently much than 20% adrift from this grounds high.

While the 2 tops (nearly 4 years) look somewhat identical, the terms enactment betwixt them makes it tricky to definitively telephone them a “double top” pattern. Moreover, the double top tin lone beryllium confirmed erstwhile the terms drops beneath the enactment level, which typically is the lowest constituent betwixt the 2 peaks. This enactment level would past beryllium astatine astir $1,000, which is simply a important region from the existent terms point.

Nevertheless, it is important to wage attraction to the terms question of ETH implicit the adjacent fewer weeks, arsenic it could supply penetration into the coin’s aboriginal comparative to this setup.