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While Bitcoin (BTC) raced from record to record in 2025, Ethereum (ETH) fell behind BTC.
Ethereum made a major push in August, finally breaking its 2021 ATH. However, it subsequently entered a downward trend, falling below $3,000.
While people are wondering when Ethereum might reach its new ATH, pseudonymous analyst Mags argued that ETH is repeating its 2021 bull pattern and could rise by 170% to $8.5,000.
In his latest analysis, the analyst said that Ethereum is exhibiting a price pattern similar to the 2021 bull market, paving the way for a significant rise.
At this point, the analyst noted that the ETH/BTC trading pair bottomed out in April at the same point as the previous bull cycle.
The analyst stated that the rising and falling movements experienced in 2021 have re-occurred, adding that ETH is now closely following the historical trend.
Finally, the analyst emphasized that ETH is currently close to the point where it preceded its seven-week 170% rally in 2021.
“Ethereum bottomed against BTC at the same level as the previous cycle.
It is currently sitting right near support, where it printed a seven-week green candle, gaining 170% in just 7 weeks, and then entered a slow distribution phase.
As a result, the analyst predicts that, following this historical bullish pattern, Ethereum could post seven consecutive weeks of gains before entering another wave of moderate selling. If the analyst's prediction comes true, it would mean the Ethereum price could surge 170% from current levels to around $8,500.
*This is not investment advice.