Ethereum’s native token, Ether (ETH), is gaining positive attention, especially in the wake of recent controversy surrounding Solana (SOL) and its LIBRA memecoin incident. This, combined with a downturn in Solana’s network activity, is shifting sentiment in favor of Ethereum, with some analysts predicting a potential rally for ETH in the coming weeks, likely extending until the end of March.

Historically, Ethereum has seen a bullish trend in the latter half of Q1 since 2020, with significant price pumps regardless of the overall market condition. Even during the 2022 bear market, ETH surged by 50%. Honey, a full-time crypto trader, points out that, based on historical trends, Ethereum has typically delivered an average return of 40% during the final six weeks of Q1. The trader forecasts that ETH could rise by 20% to 22% over the next six weeks, potentially pushing its price to around $3,500.

However, Honey notes that the market dynamics have shifted in 2025, with a larger number of altcoins in circulation compared to previous cycles. He remains optimistic, but if Ethereum doesn’t rally by the end of Q1, he believes his thesis will be invalidated.

Crypto trader Rektproof also sees potential in Ethereum, suggesting that its current position is ripe for a breakout. The trader draws parallels between Ethereum, Bitcoin, and gold, all of which have trended upward after breaking out of lower price ranges following accumulation periods.

Despite this, Ethereum faces a significant hurdle: avoiding a repeat of its August 2024 sell-off. Currently, the price action resembles the drawdown observed in Q2-Q3 of 2024, with prices forming lower highs and encountering resistance at the $2,800-$2,850 range. To avoid another extended period of sideways price movement, ETH must close daily above this resistance range. If it fails to do so, the bullish expectations may be invalidated, and the price could revisit recent lows below $2,300.