As Ethereum (ETH) continues to slowly turn crucial resistance levels into support, some analysts consider that the King of altcoins could be running out of time for a new all-time high (ATH) this cycle.<\/p>\n
Over the past week, Ethereum has attempted to reclaim<\/a> the $1,800 mark, hovering between the $1,770-$1,820 price range. In the past 24 hours, the cryptocurrency has seen a 5.5% jump, breaking above the key resistance and last week\u2019s high of $1,850.<\/p>\n Amid this price action, ETH retested the $1,860-$1,870 range for the first time in one month, and closed April just 1.56% below in opening price. Nonetheless, Ethereum\u2019s negative monthly close marked the fifth consecutive month in the red for the cryptocurrency.<\/p>\n The king of Altcoins has been recording monthly negative returns since December, its worst-performing streak since 2018, and closed the first quarter of 2025 with a 45.4% retracement.<\/p>\n Analyst Carl Runefelt noted<\/a> this performance, noting that \u201cthe good news is that historically, May is the most positive month of the year for ETH.\u201d In general, it has been one of the best-performing months for Ethereum, registering an average 27.31% increase in May.<\/p>\n Additionally, the second quarter has been a positive period for cryptocurrency, closing Q2 in the green seven out of nine times. Despite its negative April close<\/a>, Ethereum registers a mild 2.15% positive return this quarter so far, which could suggest that the cryptocurrency could continue its current performance if history repeats.<\/p>\n Another market watcher considers<\/a> that ETH\u2019s price is displaying a similar performance to Bitcoin\u2019s (BTC) 2020 rally. At the time, \u201cBitcoin consolidated at $8K\u2026 Most ignored it. Then it hit $64K.\u201d<\/p>\n According to Merlijn The Trader, \u201cEthereum is showing the exact same structure. Accumulation. Compression. Explosion loading.\u201d However, this would suggest another pullback could come before a new ATH.<\/p>\n Meanwhile, analyst Crypto Bullet offered a not-so-bullish macro perspective. According to his post, the Ethereum mid-term correction is over after taking out the August-October 2023 lows, printing a \u201cgiant reversal candle,\u201d and holding the mid-line of the multi-year descending Channel.<\/p>\n Based on this, he argues that ETH\u2019s bottom is in, and a significant mid-term bounce will likely occur in the next few months, with a first target of $2,500.<\/p>\n Crypto Bullet noted that the surge could be either a Dead Cat bounce or the start of a new ATH rally<\/a>, adding that it could be the former due to the cryptocurrency\u2019s weak performance and how advanced the cycle is.<\/p>\n In that case, Ethereum could face a potential rejection at the $2,700-$3,000 range, but a bullish rally could start if it breaks through the $3,000 resistance and breaks out of the multi-year channel.<\/p>\nETH To Skip ATH Rally This Cycle?<\/h2>\n