While the “king of altcoins” had a stop-start performance over the past week, its price seems to be in a better place than it was seven days ago. However, an interesting outlook has emerged for the Ethereum price, with the altcoin believed to have already reached its peak in this cycle.
This evaluation revolves around the potential formation of the “double top” pattern on the 3-day timeframe of the Ethereum chart. For context, the double top formation is a technical analysis pattern suggesting a possible bearish trend reversal after an asset’s price touches a resistance level without breaking through.
Meanwhile, the purported second top of this Ethereum price setup is the current all-time high of $4,946, reached earlier in August 2025. According to data from CoinGecko, the altcoin’s value is currently more than 20% adrift from this record high.
Nevertheless, it is important to pay attention to the price movement of ETH over the next few weeks, as it could provide insight into the coin’s future relative to this setup.
As of this writing, the price of ETH stands at around $3,983, reflecting an almost 3% jump in the past 24 hours.
