Ethereum is currently testing a crucial price zone that previously defined its market cycle, as the cryptocurrency struggles to maintain the $2,000 level. After a 4% weekly decline, Ethereum trades over 60% below its 2021 all-time high. Analysts suggest that if Ethereum holds the $1.6K level, it could trigger a significant rally, potentially increasing its value fourfold, similar to past cycles. Merlijn The Trader highlighted that Ethereum is at a "make-or-break level," with its price respecting a rising trendline for years. A successful defense of this zone could maintain the bullish structure, while a failure might break the macro trend. Meanwhile, analyst CW noted a resurgence in Ethereum's network activity, with daily transactions surpassing 2 million, indicating increased investor interest and potential bullish momentum for the asset.