Can 4x Rally follow?

Meanwhile, another analyst noted that activity on the Ethereum network has picked up after a sharp decline earlier this year.

The price of Ethereum has been struggling for $2,000 for a month, but the bears have once again gained the upper hand after a 4% decline on the weekly scale. The macro charts are even more painful for the largest altcoin, which in 2025 barely broke the 2021 record, but is now trading at more than 60% of that.

According to several analysts, the surrounding landscape may soon change due to increased network activity and forward movements. History shows that ETH has given incredible returns after successfully securing the area it is currently testing.

Can ETH Rocket by 4x Next?

Merlijn The Trader said in a Saturday post on X that “Ethereum is entering the zone that defined the last round.” Four years ago, it bottomed out in the $1.2K-$1.6K range after clearing liquidity. Technical tools like the RSI show it is approaching oversold territory again, and Merlijn predicted that if it holds the $1.6K level, “buyers will regain control.”

However, if it falls below the lower boundary of this range, “a deeper payment is targeted.” The last time this area was successfully tested, the analyst said that ETH went up 4x. A similar increase would now take it well above its maximum of about $5,000.

In a follow-up post, Merlijn doubled down that ETH is at a “make-or-break level” as the price has respected this bullish trend for years. It has approached the level of $2,000 and the next important move can be determined whether it will defend it or not.

MAKE OR BREAK ETHEREUM.

Over the years, the price has respected this rising line.

Each touch led to a basic movement.$ETH testing it again near $2K.

Keep it: the structure of the bull remains unchanged.
Lose it: the macro trend is breaking.

Every previous contact was violently resolved.… pic.twitter.com/eRauroDcrX

– Merlijn The Trader (@MerlijnTrader) March 7, 2026

Increase in network activity

Meanwhile, a fellow CW analyst noted that there has been a significant increase in network activity on Ethereum. The turnover reached more than 2.5 million at the beginning of the year, but quickly reached 2 million. However, they have risen above this level according to the latest data.