Despite recording multiple price declines in recent weeks, a crypto market expert believes that Ethereum (ETH) could still stage its biggest comeback in history. The analyst has projected a massive price spike toward $3,300, expecting it to occur within just a few weeks. He has attributed this bullish forecast to a recent shift in market dynamics, with buyers now returning after a long period of selling pressure and volatility.
Ethereum Forecasted To Nearly Double In Value Soon
A pseudonymous TradingView crypto analyst known as Mrlaimfx09 has shared a compelling, strongly bullish outlook for Ethereum’s price. At the top of his report, the expert boldly predicted that ETH is preparing for its greatest turnaround yet.
Sharing a price chart, Mrlaimfx09 showed that Ethereum was trading around $2,071 at the time of the analysis. The analyst noted that price action has been holding firmly within a key weekly demand zone following a sharp market sell-off that kept the ETH price stuck in an extended downtrend .
With selling pressure now seemingly fading, the analyst stated that buyers are finally returning to the market , helping to keep prices from falling even lower. He noted that this sudden shift in momentum suggests a bullish reversal could be forming for ETH, particularly if its price continues to defend the critical support area around $2,000.
Notably, Mrlaimfx09 predicted that if Ethereum can maintain strength above $2,000, it could eventually stage a successful recovery toward $3,000. Before that move, the analyst predicts a sharp rally toward the first liquidity target around $2,400. From there, he expects momentum to extend ETH’s bullish run back toward the $3,000 psychological level, before potentially pushing higher toward the upper target around $3,300. The analyst explained that each bullish level represents a key liquidation zone where the price could react during a recovery phase.
Even more interestingly, Mrlaimfx09 predicts that all of these upside moves could unfold in the coming weeks. He emphasized that Ethereum’s momentum is steadily shifting toward a more bullish outlook as its market structure stabilizes. The analyst also expects his projected reversal for Ethereum to form on the high-time frame (HTF).
A Possible Invalidation And Drop Below $2,000
On the more bearish side, Mrlaimfx09 has acknowledged the possibility of Ethereum completely invalidating its bullish structure and crashing downwards . He noted that if ETH’s price closes the week below the demand zone around $2,071, then the market should expect a major breakdown.
The analyst’s chart clearly shows this downside scenario, tracing a potential move toward the downside price target around $1,734. Notably, a drop to this level could represent a loss of more than 17% from current levels, further weakening Ethereum’s market structure FX. At the time of writing, the price of ETH is sitting around $2,090, reflecting steady volatility over the past few weeks and more than 2% in the last seven days.
