On June 16, 2025, crypto analyst MikyEdge printed two Ethereum (ETH/USD) weekly charts exhibiting a transparent sample comparability between the 2016–2017 cycle and the continued 2024–2025 construction. Each charts illustrate related price consolidation zones, horizontal resistance ranges, and key breakout indicators.

Within the first chart (prime), Ethereum moved sideways for months earlier than breaking above horizontal resistance close to $15 in early 2017. As soon as ETH cleared this stage, it skyrocketed to over $140, confirming a serious breakout supported by sturdy quantity and a rising 50-week Exponential Transferring Common (EMA).

Within the second chart (backside), ETH reveals related habits. It ranged between $2,000 and $3,600 all through 2024. After dipping towards the 200-week EMA round $1,800, it rebounded and is now retesting the $2,600–$2,800 area, intently aligning with the 50-week EMA. The construction mimics the pre-breakout part from 2017.

Mikybull Compares Present Transfer to Historic Rally

Mikybull famous: “$ETH SEEMS TO FOLLOW 2017 PLAYBOOK.” He highlighted that Ethereum’s price motion is sort of similar to the setup earlier than the explosive 2017 rally. He emphasised that the vary consolidation, transferring common alignment, and breakout take a look at are all occurring once more.

In accordance with Mikybull, the present chart setup reveals Ethereum “consolidating at major resistance just like in 2017.” He added that the token is “preparing for the next impulsive wave.”

Through the use of the phrase ‘follow the 2017 playbook,’ Mikybull implies that Ethereum may repeat the identical historic trajectory. He framed ETH’s present price as being “on the brink of the same kind of breakout.”

This interpretation aligns with the visible proof: each charts present ETH urgent towards horizontal resistance whereas reclaiming transferring common help, an indicator setup earlier than the 2017 bull run.

If ETH confirms a breakout above the $2,800–$3,000 zone, the chart setup suggests a pointy rally may observe. Ethereum’s historic habits helps this, because the 2017 transfer triggered a multi-month surge.

On the time of writing, Ethereum trades at $2,618, up 2.76% on the week, already transferring above the descending trendline drawn from the 2024 highs.

Ethereum Whales Accumulate Aggressively as Value Construction Aligns with 2017

On-chain knowledge from Glassnode reveals that Ethereum whales—wallets holding between 1,000 and 10,000 ETH—are accumulating once more. The chart, titled Ethereum: Whale Internet Place Change [Address 1k to 10k ETH], reveals a marked uptick in whale provide internet place beginning early 2025.

The purple bars characterize internet place change, the place constructive values point out accumulation. These bars have turned decisively constructive, signaling sustained shopping for strain from giant holders. Concurrently, the pink line reveals ETH provide held by these wallets rebounding after a multi-year decline, climbing from beneath 12.5 million ETH to just about 13.5 million.

This whale habits coincides with Ethereum’s restoration from sub-$2,000 ranges and aligns with the technical construction outlined by Mikybull. The buildup development helps the narrative that ETH is “following the 2017 playbook,” as whales traditionally started positioning simply earlier than the explosive 2017 breakout.

‘Whales Are Loading Up Ahead of the Next Move’—that’s the message the information sends. The final time whale addresses confirmed this stage of internet accumulation, Ethereum was making ready for a historic multi-month rally. Now, with ETH consolidating close to the $2,600 mark and whale help strengthening, on-chain knowledge seems to bolster the bullish case.