On January 18, 2025, Ethereum (ETH) is showing signs of recovery, with a current price of approximately $3,500, reflecting a nearly 5% increase in the past 24 hours. Analysts predict a potential rally to $7,000, nearly 100% above its current value, contingent on breaking above the $4,100 resistance level.
Prominent crypto analyst Ali Martinez highlighted the formation of an inverse head-and-shoulders pattern on the daily chart, indicating a bullish breakout if ETH closes above the neckline. Additionally, whale activity has surged, with over 330,000 ETH (valued at over $1 billion) accumulated in the past week, which historically correlates with price increases.
As of now, ETH's price has increased by nearly 7% over the past week, and the market sentiment is cautiously optimistic about a significant breakout in the coming months.