No matter what the short-term price action and volatility might want to make you believe, the Ethereum price has been gradually trending higher for more than a year now.

This bullish slope up has been a result of increasing demand for Ethereum worldwide, its growing popularity, and the numerous new projects and investments going on in the industry.

This also means that while a lot of traders and short-term speculators have experienced a lot of price whipsaws, massive gains, and losses these past few months, Ethereum Hodlers have consistently been seeing their holdings double in value over the same period of time.

In this Ethereum analysis, we will be bringing all this knowledge together to try and decipher what exactly is going on with the Ethereum price chart and where we might be heading next.

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Will History Repeat Itself?

One thing is clear from the price chart above. The Ethereum price has a key Ascending Channel Support it has been respecting for over a year now.

And every time the ETH price touches this key support, we always see a massive bullish price rally play out. It has happened twice in the past and now we are seeing some price similarities play out right now.

The question traders are now asking is “will we see a bullish surge into new ATHs like we have seen happen over and over again in the past?”

Many would say that the bullish rally has already started, but most traders are too zoomed in on the chart to even notice. What do you think?

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In our next Ethereum analysis Is Ethereum Setting Up For A Major Buy To New ATHs? Watch This Bullish Prediction we will be breaking down how exactly we will be converting this knowledge to action and the possible key levels we will be watching out for in the coming days.

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