The cryptocurrency market has not had its typical “Uptober” efficiency to date this month, with most large-cap assets falling to new native lows previously few months. The Ethereum value, which was on the verge of hitting $5,000 a number of weeks in the past, is now languishing beneath the $4,000 mark.
Whereas the “king of altcoins” had a stop-start efficiency over the previous week, its value appears to be in a greater place than it was seven days in the past. Nevertheless, an attention-grabbing outlook has emerged for the Ethereum value, with the altcoin believed to have already reached its peak on this cycle.
How Possible Is A Double Prime For ETH Value?
Standard crypto analyst Ali Martinez lately took to the social media platform X to share insights into the present setup of the Ethereum value. In line with the market pundit, the second-largest cryptocurrency may very well be in for an prolonged bearish interval over the subsequent few weeks.
This analysis revolves across the potential formation of the “double prime” sample on the 3-day timeframe of the Ethereum chart. For context, the double prime formation is a technical evaluation sample suggesting a attainable bearish development reversal after an asset’s value touches a resistance degree with out breaking by means of.
As noticed within the chart above, the preliminary prime got here round late 2021 in the course of the altcoin season when the worth of ETH rose to the then-all-time excessive of above $4,800. This value peak was followed by a market crash, which noticed the worth of Ethereum drop to across the $1,000 mark by mid-2026.
In the meantime, the purported second prime of this Ethereum value setup is the present all-time excessive of $4,946, reached earlier in August 2025. In line with knowledge from CoinGecko, the altcoin’s worth is at the moment greater than 20% adrift from this report excessive.
Whereas the 2 tops (practically 4 years) look considerably an identical, the worth motion between them makes it tough to definitively name them a “double prime” sample. Furthermore, the double top can solely be confirmed when the worth drops beneath the assist degree, which usually is the bottom level between the 2 peaks. This assist degree would then be at round $1,000, which is a major distance from the present value level.
However, it is very important take note of the worth motion of ETH over the subsequent few weeks, because it may present perception into the coin’s future relative to this setup.
Ethereum Value At A Look
As of this writing, the worth of ETH stands at round $3,983, reflecting an nearly 3% bounce previously 24 hours.
