According to analyst Dan Gambaldello, the price of Ethereum (ETH) shows signs of a reversal of the trend of pushing it up towards the $3,450 level.
In his recent market analysis and Ethereum (ETH) price forecast, Gambaldello emphasized that Ethereum “the Bulls have the advantage.”
He pointed out that momentum oscillators have begun to turn bullishness over the second-largest cryptocurrency.
Analysts have noted the accumulation of major whales in Ethereum. He compared the current inflow chart to a pattern that previously marked the beginning of the market bottom.
Bulls will gain precedence when eth prices go down
Ethereum appears to be at a critical turning point in the market cycle. Several indicators suggest that the bottom process is ongoing. Gambaldello highlighted its own “Blue Bear Arena” indicator, which shows a clear change in market management.
“The Bulls have an advantage right now, which is a big deal for Ethereum,” emphasized Gambaldello, pointing to a collection of momentum oscillators that are beginning to invert positively due to ETH.
This shift is important as it reflects patterns seen in previous market cycles. Analysts are similar to similar indicator measurements from August to September in the cycle prior to Ethereum’s substantial price breakout in November.
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While warning that this is a short-term signal rather than a macro indicator, Gambaldello noted that these momentum changes usually precede wider market movements. Whale activity data strengthens this bullish outlook, with the chart showing substantial ETH accumulation occurring at current levels. Gambaldello compared these influxes to a similar pattern that marked the beginning of the previous market bottom.
Multi-year triangle patterns refer to critical levels
Ethereum’s price action approaches a technical pattern that allows for the determination of medium-term trajectories. Gambaldello specifically pointed out the multi-year symmetrical triangle, including price transfers in ETH.
“I want this to be a busted pattern, this massive annual symmetrical triangle, a bust pattern that is drawn back to the peak of every coin and the boomboom market. That’s what I want to see,” Gambaldello said.
Analysts are closely monitoring the $2,700-$2,800 range as a key zone of resistance for Ethereum. This price level corresponds to the vertices of the triangle pattern, and is an important technical hurdle that ETH must overcome to confirm bullish scenarios.
Global liquidity trends may support this potential breakout. Gambardello cited the M2 global liquidity level with a 108-day delay that appears to indicate a positive condition for price increases. This macro liquidity index tended to correlate with significant changes in crypto market trends.
If Ethereum’s price can test and break this pattern, it is evidence of what Gambardello calls the “bust pattern.” In this case, the price will return to test the broken pattern before continuing in the broken direction. This technological advancement is very bullish for ETH and perhaps the Altcoin market as a whole.
The Altcoin Market follows in the footsteps of Ethereum
Currently, Ethereum’s position in the market has an impact on its prices and can also reflect trends in the general Altcoin market. Gambardello’s view is that ETH’s price action can make the entire Altcoin market a low point, just like in the previous market cycle.
Analysts have looked at the Altcoin market chart for several months and observed similarities between the current market structure and the major previous lows. The market now shows levels of fear similar to major historic lows, including tariff horrors in 2018 and Covid-19 panic in 2020.
“You haven’t been optimistic about Crypto lately? If not, you’ll get it, but seeing this information makes me feel very optimistic,” Gambardello said while looking at the Altcoin charts every month.
On the weekly chart, analysts noted that the momentum metric for Altcoins fell to around 37 low in RSI. This technical equivalence indicates the bottom situation.
The immediate hurdle for the Altcoin market is the 50-week moving average, with the 20-week moving average representing a market capitalization level of $1.2 trillion to another important technology level. This requires about 14-15% of travel from the current level.