Ethereum Retests Key $1.2K–$1.6K Cycle Zone as Analysts Weigh 4x Upside Potential

Ethereum has traded around $2,000 for about a month while sitting more than 60% below its 2021 all‑time high. An analyst argues that ETH is revisiting the crucial $1.2K–$1.6K zone that marked the previous cycle bottom, suggesting a defended support could precede a strong rally. Another market watcher points to daily transactions climbing back above 2 million this year, viewing the renewed network activity as potentially supportive for the asset.