The Ethereum price action is currently displaying striking similarities to its 2017 market cycle, with analysts noting a near-identical technical setup and market behavior. Merlijn the Trader, a crypto analyst, recently shared a side-by-side comparison of the weekly charts from 2025 and 2017 on X (formerly Twitter), suggesting that Ethereum is following a similar breakout pattern that previously led to a significant rally. However, this time around, the analyst believes that the potential move could be even more substantial.
In the current 2025 chart, Ethereum has successfully claimed the 50-week Moving Average (MA) after facing months of downward pressure and range-bound movement. Following a clear breakout from support levels near $2,250, the cryptocurrency is now consolidating below the 50 MA, forming a tight sideways pattern.
According to Merlijn the Trader, this current structure closely resembles the price movements that occurred in late 2016 and early 2017, just before Ethereum initiated a powerful upward surge. The analyst’s 2017 Ethereum chart depicts the altcoin breaking above the 50 MA, followed by a brief period of sideways action under resistance. Subsequently, the price embarked on a parabolic rally that marked the beginning of a major bull cycle.
The 2025 chart on the right panel mirrors almost identically the playbook of the 2017 setup, with Ethereum transitioning out of a prolonged accumulation phase and entering a phase of consolidation below crucial resistance levels. Nevertheless, the current market conditions are notably different, with increased institutional involvement, broader retail adoption, and a more developed ecosystem supporting Ethereum.
While the technical patterns align closely with the 2017 breakout, the scale and context suggest that the potential upside could be even greater this time around. The similarities between Ethereum’s 2017 and 2025 price action lie in the timing of the 50 MA reclaim and the tight consolidation range that ensues. If Ethereum can sustain this trajectory and break above the current resistance zone, it could signify the beginning of a new macro rally, potentially amplifying historical trends.
Based on Merlijn the Trader’s analysis, Ethereum may be on the brink of a major breakout, with technical patterns indicating a potential price target above $4,000. If history is any indication, Ethereum’s next move could propel it from its current price of $2,541 to $4,000 or even beyond, with the analyst foreseeing no ceiling in sight for fresh all-time highs.
In conclusion, Ethereum’s price action is closely mirroring its 2017 market cycle, with analysts anticipating a significant breakout and potential rally. With the current technical setup and market behavior aligning with historical patterns, Ethereum could be poised for a substantial uptrend in the near future.