Why Is ETH’s Price Down? A 121% Volume Spike Shows Intense Profit-Taking After the ATH

• Ethereum has pulled back to ~$4,600 after a sharp rejection from its new all-time high over the weekend
• An analyst is using a historical fractal from the 2021 cycle to project a potential ETH price of $15,650
• Short-term indicators show weakening momentum, suggesting a period of consolidation or further correction

Ethereum’s price is at a critical juncture, with technical signals pointing to both a massively bullish long-term picture and a need for short-term caution. While analysts tracking historical patterns see a path for ETH toward targets as high as $15,650, the immediate market data shows volatility has returned.

The long-term bull case is based on a simple comparison to the last cycle. After Ethereum broke its previous all-time high in 2021, it rallied over 211%, peaking near the 3.618 Fibonacci extension level. According to analyst Mags, if that history repeats, the same 3.618 extension in the current market structure sits at $15,650.

#Ethereum is going to $15,650 ?

Last cycle when ETH broke above its previous ATH it went up by +211% and peaked at 3.618 fib extension level.

ETH has finally broken above its ATH again for the first time in this cycle…

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