Is The Ethereum Bull Cycle Over? Analyst Identifies Potential ‘Double Top’ Pattern

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The cryptocurrency market has not had the standard “Uptober” efficiency to this point this month, with most large-cap property falling to new native lows in latest months. The value of Ethereum, which was on the verge of reaching $5,000 just a few weeks in the past, is now falling beneath $4,000.

Though the ‘king of the altcoins’ had a stop-start efficiency this previous week, the value appears to be in a greater place than it was seven days in the past. Nevertheless, an fascinating outlook has emerged for the Ethereum worth, with the altcoin believed to have already reached its peak on this cycle.

How possible is a double prime for ETH worth?

Standard crypto analyst Ali Martinez not too long ago took to social media platform X part perception into the present setup of the Ethereum worth. In line with the market skilled, the second-largest cryptocurrency may expertise an prolonged bearish interval within the coming weeks.

This analysis revolves across the potential formation of the ‘double prime’ sample on the three-day time-frame of the Ethereum chart. For context, the double prime formation is a technical evaluation sample that implies a potential bearish development reversal after an asset’s worth reaches a resistance degree with out breaking via.

As seen within the chart above, the preliminary prime got here in late 2021 throughout altcoin season, when the value of ETH rose to its then all-time excessive above $4,800. This worth spike was adopted by a market crash, which noticed Ethereum’s worth fall to round $1,000 by mid-2026.

In the meantime, the alleged second prime of this Ethereum worth setup is the present all-time excessive of $4,946, beforehand reached in August 2025. In line with knowledge from CoinGecko, the altcoin’s worth is at present greater than 20% away from this all-time excessive.

Though the 2 tops (virtually 4 years) look considerably equivalent, the value motion between them makes it tough to definitively name them a “double prime” sample. Furthermore, the double top can solely be confirmed when the value falls beneath the assist degree, which is normally the bottom level between the 2 peaks. This assist degree would then be round $1,000, which is a big distance from the present worth degree.

Nonetheless, you will need to take note of ETH’s worth motion within the coming weeks as it could actually present perception into the way forward for the coin in relation to this setup.

Ethereum worth at a look

On the time of writing, ETH’s worth is round $3,983, reflecting a rise of virtually 3% within the final 24 hours.