ETHEREUM IS STILL WAITING FOR THE SIGNAL THAT PRECEDED ITS BIGGEST HISTORICAL RUNS.
The ISM Manufacturing PMI has been an interesting macro indicator to watch alongside ETH’s previous cycles.
→ 2017: ISM moved above 56 → ETH later surged from roughly $10 to $1,400.
→ 2020–2021: ISM moved above 56 → ETH later climbed from roughly $88 to $4,800.
Now ISM has printed 54.5, slightly below the 54.8 forecast and the previous 54.6 reading.
The important level remains 56.
In the previous two cycles, a move beyond this zone coincided with the stronger phase of ETH’s bull market.
ETH is currently around $2,695 and testing the Monthly MA 50, making this area especially important to watch.
If economic activity strengthens and ISM eventually pushes toward 60, the historical pattern would put ETH and the wider altcoin market back in focus heading toward 2027–2028.
History doesn’t guarantee another repeat, but the macro signal that accompanied the previous major expansions hasn’t arrived yet.
The real move may depend on what happens when ISM finally challenges 56 again.
The ISM Manufacturing PMI has been an interesting macro indicator to watch alongside ETH’s previous cycles.
→ 2017: ISM moved above 56 → ETH later surged from roughly $10 to $1,400.
→ 2020–2021: ISM moved above 56 → ETH later climbed from roughly $88 to $4,800.
Now ISM has printed 54.5, slightly below the 54.8 forecast and the previous 54.6 reading.
The important level remains 56.
In the previous two cycles, a move beyond this zone coincided with the stronger phase of ETH’s bull market.
ETH is currently around $2,695 and testing the Monthly MA 50, making this area especially important to watch.
If economic activity strengthens and ISM eventually pushes toward 60, the historical pattern would put ETH and the wider altcoin market back in focus heading toward 2027–2028.
History doesn’t guarantee another repeat, but the macro signal that accompanied the previous major expansions hasn’t arrived yet.
The real move may depend on what happens when ISM finally challenges 56 again.