Fractal Ethereum signals a price increase like in 2017?

* The price movement of Ethereum is reflecting the 2016/17 pattern, which led to a strong price increase.

• The fact that whales bought 1.10 million Ethereum shows they may know something, but will there be a price increase soon?

The price chart of Ethereum [ETH] from 2016 to 2024-2025 shows an interesting fractal pattern, indicating the possibility of a large price increase like in 2017. The price trend of ETH in 2016 was reflected through a series of lows and highs, ultimately culminating in a strong breakout.

Source: X

Recently, Ethereum has displayed a similar pattern, characterized by large price fluctuations and breaking through the potential growth. In early 2024, ETH dropped to around $2,400, then recovered to around $4,000. Currently, ETH is retesting the $2,400 support level.

This fractal model suggests that if ETH reflects its historical behavior, support at $2,400 may trigger a new rally.

However, if this support level cannot be maintained, it may cause the next price drop, similar to the short-term sell-offs in the previous cycle.

The total fluctuation from the low of 2024 to the current high is an increase of over 2,000 USD per ETH. The recent strong recovery from the deep price drop may be a sign of strength if the current support levels can withstand market pressure.

Considering these trends, Ethereum may be preparing to reflect a price increase similar to the surge from late 2016 to 2017.

However, if the trend is not maintained, it could lead to a reversal situation with potential price declines.

How can whales drive the completion of the ETH model?

Recently, whales have been actively buying 1.10 million ETH. This increased activity coincides with a sharp price drop, followed by a quick recovery.

Source: X

Between February 25 and March 4, the price of ETH dropped to $2,184 before rebounding to around $2,284. The accumulation of this whale may indicate an expectation of a market price increase, likely driving these large buy transactions.

History shows that large-scale purchases by powerful investors often precede price increases, as they may have access to advanced market analysis tools or information predicting future price increases.

Conversely, if the whale reverses its buying activity and starts selling, it could create downward pressure and trigger a sell-off.

However, if ETH maintains its recent recovery levels and whales continue to accumulate, it could signal the start of a bullish trend.

On the contrary, if it drops below the recent lows, it will confirm a bearish sentiment, potentially leading to further price declines. The market is at a critical stage, and Ethereum's next move will be crucial in shaping short-term prices.

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