Could 4x Rally be next?

One analyst noted that Ethereum’s network activity has picked up speed after a sharp decline earlier this year.

The price of Ethereum has fought for $ 2,000 for a month now, but the bears have taken advantage again after another 4% drop on the weekly scale. The major charts are even more painful for the biggest altcoin, which did not break the 2021 peak in 2025, but is now trading more than 60% away from it.

According to several analysts, however, the environment may change soon due to increased network activity and previous cycle movements. History has shown that ETH has posted impressive returns after successfully defending its current testing position.

Is ETH Rocket by 4x Next?

Merlijn The Trader said in a Saturday post on X that “Ethereum is entering the territory that decided the last cycle.” Four years ago, it dropped after sweeping the money within the $1.2K-$1.6K range. Technical tools like the RSI show that 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 limit of that range, “the most money spent becomes the target.” The last time this site was tested and successfully protected, the analyst said that ETH had risen by 4x. The same surgery will now cost you over $5,000.

In a subsequent post, Merlijn reiterated that ETH is “at a make or break level,” as the price has respected this upward trend for years. It is close to the $2,000 level, and the next big move can be determined by whether to defend it or not.

ETHEREUM IS AT A MAKE-OR-BREAK LEVEL.

The price has been following this upward trend for years.

Each touch resulted in a larger movement.$ETH it also checks in at close to $2K.

Hold it: the structure of the bulls remains the same.
Lose it: a major trend is breaking.

All previous touches have been resolved by violence.… pic.twitter.com/eRauroDcrX

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

Growing Network Activity

Meanwhile, another analyst CW noted that there is a significant increase in network activity on Ethereum. Transactions rose to more than 2.5 million at the beginning of the year but quickly fell to less than 2 million. However, they have gone beyond that level as of the latest data.

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The same development means that investors and users are more inclined to use the network, which is usually a bullish sign for the underlying asset.

After a slight decrease, $ETH network activity is growing again.

Daily activities are already above last year’s levels. Despite the price drop, the network is becoming more active.

This indicates bullish, not bearish. pic.twitter.com/ZSICoVnbsO

— CW (@CW8900) March 7, 2026