Is Ethereum Running Short on Time? All-Time High May Not Happen This Cycle.

As Ethereum (ETH) gradually turns key resistance levels into support, several analysts believe that the leading altcoin might be running out of opportunities for a new all-time high (ATH) during this cycle.

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Ethereum Ends April on a Downturn

In the past week, Ethereum has made efforts to regain the $1,800 threshold, fluctuating in the $1,770-$1,820 zone. Over the last 24 hours, the cryptocurrency experienced a 5.5% surge, surpassing significant resistance and reaching last week’s peak of $1,850.

During this price movement, ETH retested the $1,860-$1,870 area for the first time in a month and closed April at just 1.56% lower than its opening price. However, this downward monthly close signifies the fifth consecutive month of declines for the cryptocurrency.

Since December, the leading altcoin has been experiencing negative monthly returns, marking its worst streak since 2018, and it concluded the first quarter of 2025 with a 45.4% pullback.

Analyst Carl Runefelt highlighted this trend, remarking that “the good news is that traditionally, May is the most favorable month for ETH.” Historically, this month has been one of the strongest for Ethereum, averaging a 27.31% gain in May.

Furthermore, the second quarter has typically been favorable for cryptocurrencies, with Q2 ending in positive territory seven out of nine times. Despite April’s downturn, Ethereum still shows a slight 2.15% positive return thus far in the quarter, suggesting potential continued performance if past trends hold.

Another market analyst perceives that ETH’s current performance reflects Bitcoin’s (BTC) rally in 2020. During that period, “Bitcoin stabilized around $8K… Many ignored it. Eventually, it soared to $64K.”

According to Merlijn The Trader, “Ethereum is following the same pattern: Accumulation. Compression. Potential for explosive growth.” Nonetheless, this could imply that another pullback might occur before reaching a new ATH.

Will ETH Miss Out on an ATH Rally This Cycle?

Conversely, analyst Crypto Bullet presented a less optimistic view. He stated that Ethereum’s mid-term correction has concluded after surpassing the lows from August to October 2023, forming a “large reversal candle” and maintaining the mid-line of the multi-year descending channel.

Based on this analysis, he posits that ETH has reached a bottom, and a considerable mid-term rebound is expected in the coming months, aiming for a first target of $2,500.

Crypto Bullet cautioned that this surge might either represent a temporary bounce or the beginning of a new ATH rally, suggesting the former may be more plausible given the cryptocurrency’s weak past performance and the advanced stage of the cycle.

In this scenario, Ethereum might encounter resistance in the $2,700-$3,000 range, but a bullish trend could initiate if it breaks through the $3,000 mark and exits the multi-year channel.

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Nonetheless, he also proposed that Ethereum may be “in a larger cycle than we realize,” similar to cryptocurrencies demonstrating a “one cycle behind” pattern. In a past evaluation, Crypto Bullet noted the possibility that ETH may not achieve an ATH in this cycle, citing XRP’s trajectory in 2021.

“What if the peak for ETH is already set, and it will establish a substantial Accumulation Structure (either a Triangle or a Zigzag) and break out around 2028?” he speculated, concluding that investors would accumulate momentum for a potential breakout, leading to significantly higher targets.

Image sourced from Unsplash.com, Chart from TradingView.com