The altcoin market is heating up with the surge of Ethereum, BlackRock buys ETH.

Ethereum (ETH) is trading near an important technical breakout level as institutional investment in leading altcoins is rising.

BlackRock's recent purchase of $98 million worth of Ethereum and new concerns about the altcoin cycle have drawn attention to a potential price rise.

Analysts have been monitoring familiar patterns that could set the stage for significant growth in the market by the end of 2025.

ETH forms a symmetrical triangle pattern

The monthly ETH price chart shows the formation of a large symmetrical triangle pattern that has lasted for 4 years. This pattern, consisting of converging trend lines, lower highs, and higher lows, has constrained ETH price volatility since the end of 2021.

Analyst Ash Crypto notes that the price of ETH has previously traded near $2,440 and is approaching the peak of the triangle before forming a breakout with high trading volume.

The analyst notes the decision to break through the resistance level near $3,000.

ETH Price Chart | Source: XIt is noteworthy that these technical setups often form during prolonged consolidation periods. The price of ETH has experienced significant volatility since peaking at around $4,800 in 2021, followed by stable reaccumulation phases.

In addition, the triangular structure started to form after the correction in 2021 and the recent monthly candles show that the bullish interest is gradually rising as the volume recovers.

If ETH breaks through the resistance level with higher momentum, it has the potential to set new price targets, including the possibility of repeating the previous ATH.

This structure focuses on the larger altcoin market as ETH often leads trends across the market.

BlackRock buys 98 million USD ETH

BlackRock, one of the largest asset management companies in the world, is said to have purchased 98 million USD Ethereum.

The allocation adds more signs of institutional involvement in this asset, following the company's previous moves regarding Bitcoin through spot ETF funds and related services.

This transaction signals that the price of Ethereum may be penetrating the investment portfolios of traditional financial companies, potentially bringing stability and additional trading volume to this asset class.

Many analysts view the participation of investment institutions as the main driver of liquidity and long-term adoption. BlackRock's involvement comes amid widespread discussions about regulations surrounding the Ethereum ETF in the United States.

ETH Price: Analysts Compare the Altcoin Market to the 2019–2021 Cycle

Recent chart comparisons by analyst Ash Crypto show that the altcoin market is forming a structure similar to the one seen during the 2019 and 2021 periods.

The previous cycle began with an initial rise phase, followed by a prolonged correction and consolidation before widespread growth.

Source: XAsh Crypto notes that the current market is exhibiting a pattern almost identical to what has been happening since 2024. The first rally has been completed, the recent 60% correction has been absorbed, and the second price increase is underway.

According to the models shared by Ash, the expected timeline for the potential altcoin price rise will begin at the end of 2025. The forecast is based on periodic cycles and time estimates with Fibonacci.

The Role of Ethereum in Altcoin Market Cycles

Traditionally, Ethereum is used to predict the performance of altcoin in previous cycles. Both 2017 and 2021, the price surges of ETH were followed or accompanied by an increase in altcoin.

With liquidity dominating the DeFi, NFT, and Layer-2 sectors, the performance of Ethereum often dictates the flow of capital into lower market cap assets.

Recent on-chain activity and price action indicate an accumulation increase from large holders, accompanied by purchases from institutional investors such as BlackRock.

Meanwhile, recent analyses from various crypto experts indicate that Altseason 3 may start on July 1st.

Atlas and Danny Crypto have noted the similarities between the current charts and the COVID incident in 2020, with the altcoin market capitalization currently flashing the potential for a golden cross formation. July also marks significant altcoin rallies in the cycles of 2017 and 2021.

Vincent