The first half of 2025 was not favorable for the second-largest coin by market cap, as it crashed, making lower lows and lower highs along the way. The last time Ethereum (ETH) was sailing above $3,400 was back in January 2025–six months ago. From as high as $3,400, Ethereum crashed to as low as $1,400 in April, losing almost 60% of its value in just 4 months.
ETH falls hard but makes a comeback in full grandeur
However, come April, the bulls decided that enough was enough and stepped into buy the dip. With the bulls entering the market, the downward trend reversed, and ETH prices started to recover. It crossed the psychological resistance levels at $2,000 and $2,500 in a matter of months, making a comeback in style.
Institutions set the stage for ETH’s killer comeback
Thanks to some institutions’ interest, which made Ethereum’s comeback glorious. In particular, SharpLink Gaming Inc. acquired 74,656 ETH at a weighted average price of $2,852 within the last week, making it the world’s largest corporate holder of ETH with 280,706 ETH.
Cofounder of PayPal, Peter Thiel, acquired a 9.1% stake in BitMine Immersion Technologies, a Bitcoin mining company, which has an Ethereum (ETH) treasury. Thiel, who has a track record of identifying and investing in disruptive technologies, buying a stake in BitMine, which has an ETH treasury, has increased the confidence of the ETH community. In addition to that, BitMiner holds $500 million worth of ETH.
ETH shows symptoms of hitting its all-time high once again
The chart above shows that Ethereum is currently exhibiting a similar bullish pattern that was seen in November 2024, where it reached its all-time high of $4,891. The setup is such that it looks like ETH is on its trail towards crashing into its all-time high once more. However, before hitting its all-time high, there was a slight dip $3,055, after which the coin rose in quick succession to hit its all-time high. So will ETH follow the same trail it did back in November? Well, it looks like it may. The Bollinger bands and the RSI indicators have indicated an oversold condition, as they did back in November last year. As such, ETH may test its all-time high and may even breach this level.
