Ethereum (ETH) has rebounded after forming a double bottom pattern, while a new altcoin is setting its sights on a potential 29-fold increase.

Ethereum (ETH) has recently demonstrated remarkable resilience, emerging from a well-recognized double bottom pattern. Analysts and traders viewing this technical pattern as a favorable sign of a potential significant increase have been monitoring it closely. On February 28, 2025, Ethereum’s price is $2,112.69, which is a decrease of $234.06 from its previous closing price. Although the pattern indicates a shift from a downtrend to an uptrend, it does not overshadow this minor price decrease. A double bottom pattern occurs when an asset’s price drops to a similar low on two occasions, separated by a slight peak in between. The pattern is symbolized by the letter “W.” Ethereum started to experience this trend in mid-2022 when its value dropped to approximately $1473. Following a recovery to nearly $1,200, it dropped back to around $880 at the start of July 2022, but then surpassed the temporary high, affirming the trend and indicating a favorable reversal.