Ethereum (ETH) Has Mounted an Impressive Comeback, Surging 21% From Its $1,380 Low to Current Levels

Ethereum has staged an impressive comeback, surging 21% from its $1380 low to current levels following a week of intense selling pressure. The rally began last Wednesday, triggered by a major geopolitical development: US President Donald Trump announced a 90-day pause on reciprocal tariffs for all countries except China, which now faces a steep 145% tariff. The announcement injected a wave of optimism across global markets, with Ethereum among the top beneficiaries.

Despite a 21% surge from its $1,380 low over the past week, crypto analyst Ali Martinez says that a 17% move could be on the cards for ether (ETH) as it completes a symmetrical triangle.

Symmetrical triangles are powerful chart patterns that can signal an asset’s breakout from a consolidation phase. In this case, Martinez spotted the pattern forming on the 4-hour chart, adding that the breakout could propel ETH 17% from current price levels.

According to the analyst, a break above the triangle’s upper trendline could see the price of ether rally 17% to reach $2,000. At the time of writing, ETH trades at $1,690.

The triple-bottom formation at $1,380 sparked a 21% price recovery for ether as it tries to claw back some of the losses from the recent crypto winter.

The crypto market, like equities, has been largely shaped by macroeconomic developments in recent months. As such, we could see another bull leg if good news on the trade front rolls around.

Earlier this week, U.S. President Donald announced a 90-day deferment on reciprocal tariffs for all countries except China. The announcement sparked a rally in global markets, with cryptocurrencies among the top beneficiaries.

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