Ethereum (ETH) remains capped at a multi-year resistance level even after posting a 160% gain since April. The token trades near $3,611, consolidating below a long-term symmetrical triangle resistance visible on its monthly chart.
Crypto analyst BitBull (@AkaBull_) commented on X, saying:
“ETH keeps on getting rejected from its multi-year resistance level. I know it’s kinda frustrating, but you need to understand one thing. Since April bottom, ETH is up nearly 160% and nothing goes up in a straight line. A lot of buyers who bought early will take some profits, and new whales will enter. This usually takes 1–2 months before the next leg up begins. Until some miracle happens, I still think $4.3K–$4.5K ETH is possible in Q3 and a new ATH in Q4.”
The monthly chart shows ETH forming a large symmetrical triangle pattern, similar to Bitcoin’s structure before its 2020 breakout. The Relative Strength Index (RSI) stands at 58.75, signaling neutral momentum after rebounding from lower levels earlier this year. Historically, this setup precedes periods of sideways trading before renewed upside moves.
According to BitBull, such pauses allow profit-taking by early entrants and provide entry points for large holders, commonly called “whales.” These consolidation phases often last one to two months before strong bullish moves resume.
If ETH breaks its current resistance, projections indicate a possible rise to $4,300–$4,500 in the third quarter. BitBull further expects that such momentum could drive the token toward a new all-time high in the fourth quarter, aligning with historical patterns of post-consolidation rallies.
This price structure and RSI alignment reflect a market in accumulation, with Ethereum’s broader uptrend intact despite short-term resistance rejections.
Ethereum Shows Stronger Momentum Than Bitcoin as Buyers Hold Key Support
Ethereum (ETH) has demonstrated stronger price action compared to Bitcoin in recent sessions. The token is currently trading near $3,590, with buyers repeatedly stepping in at crucial support zones.
Analyst Ted (@TedPillows) noted on X that dips in ETH are being absorbed quickly, underscoring aggressive accumulation at lower levels. The chart highlights multiple instances where ETH held support following prior resistance breakouts, suggesting bullish structure remains intact.
Ted commented:
“ETH is showing more strength than BTC lately. Buyers are stepping in at support levels, and dips are getting bought up quickly. I think $4K ETH is just a matter of time.”
The chart also marks a recent “fake out” above $3,700, followed by a swift pullback toward support before stabilizing. This price action indicates sustained demand around $3,300–$3,600, reinforcing the bullish outlook.
If momentum continues, ETH’s path toward $4,000 remains in focus, supported by strong dip buying and consistent support retention.
Ethereum Whale Accumulation Hits Record Levels as Mega Holders Buy Aggressively
Ethereum (ETH) is witnessing a sharp increase in large-scale accumulation by major holders, often referred to as “mega whales.” Data from Glassnode, shared by analyst CryptoGoos (@crypto_goos), shows addresses holding more than 10,000 ETH have been accumulating at unprecedented levels.
The chart highlights a strong upward trend in the count of these mega-whale addresses, coinciding with Ethereum’s price climb above $3,000. The recent surge in holdings points to growing confidence among the largest market participants.
CryptoGoos commented:
“Mega whales are buying unprecedented amounts of $ETH. Follow the smart money!”
This aggressive buying phase has pushed whale addresses to their highest levels in months, signaling deep-pocketed investors are positioning ahead of Ethereum’s next potential move. Historically, such behavior has preceded significant rallies, as whale accumulation typically tightens supply and strengthens price floors.
The data underscores ongoing large-scale inflows into ETH from institutional or high-net-worth entities, further reinforcing bullish sentiment in the market.
Ethereum Forms Falling Wedge Pattern, Signals Potential 51% Upside
Ethereum ETH/ USD has formed a falling wedge pattern on the four-hour chart, a structure that often indicates a potential bullish reversal. A falling wedge pattern appears when price action moves between two downward-sloping, converging trendlines, with lower highs and lower lows gradually tightening. This pattern typically reflects weakening selling pressure and often precedes an upward breakout as buyers regain control.
In the current chart, ETH trades at $3,618, slightly below the 50-period Exponential Moving Average (EMA) of $3,619. The price has broken out of the wedge’s upper boundary, suggesting an early signal of bullish momentum. Based on this breakout, the measured move projects a potential 51% rally from the current level, targeting approximately $5,470.
The falling wedge is widely recognized as a bullish continuation setup when it occurs in an uptrend, as it consolidates prior gains before resuming upward movement. ETH’s previous price action shows a strong climb in July, followed by this wedge-shaped consolidation, aligning with the textbook structure of the pattern. The breakout above the wedge line reinforces the view that buyers are reclaiming strength, paving the way for a significant upside move toward the projected price target.
This setup aligns with broader market signals that favor Ethereum’s sustained bullish trajectory if the breakout holds and buying momentum continues.
Ethereum RSI Rebounds Above 50, Signaling Shift Toward Bullish Momentum
Ethereum’s Relative Strength Index (RSI) has climbed back above the 50 level, suggesting a potential shift toward bullish momentum in the short term. The current RSI reads 52.05, while its 14-period moving average sits slightly higher at 53.32. This crossover indicates growing buying interest, especially after the RSI recently bounced from near-oversold conditions.
The RSI, or Relative Strength Index, is a momentum oscillator that measures the speed and change of price movements. Readings above 70 typically suggest overbought conditions, while those below 30 signal oversold zones. When the RSI crosses above 50, it usually reflects increasing strength in the underlying asset.
This upward turn in RSI aligns with Ethereum’s earlier falling wedge breakout on the 4-hour chart. Together, these signals suggest the market is building momentum for a possible move higher. If the RSI continues rising while staying above its moving average, it would further confirm bullish control and support the case for a breakout continuation.