- Ethereum breaks out after 4 years, signaling potential for a major bullish trend.
- Wallet data shows ETH holders in profit, supporting ongoing accumulation and confidence.
- $3,100 is the next key resistance, with bullish targets set above $3K if support holds.
Ethereum (ETH) has spent nearly four years consolidating within a wide range, building a base through accumulation and structural support. As of now, ETH is breaking out with renewed momentum. Market participants are watching closely, as the size of the consolidation could support a strong move higher.
Technical Structure Supports Bullish Outlook
According to analysis prepared by BlitzzTrading via CryptoQuant, ETH has surpassed the average cost basis of most wallet holders. Wallets holding 100–1,000 ETH averaged $2,225, while those with over 10,000 ETH held at $1,994. With the current price near $2,600, these groups are in profit, which supports ongoing accumulation and confidence.
The 4-hour and daily charts show bullish structure, including higher highs and higher lows. Crypto analyst Merlijn stated on X, “ETH IS BREAKING OUT NOW,” noting the broken downtrend and a rise in volume. These indicators suggest that ETH has entered a new phase of movement following the multi-year range.
ETH has also maintained strong trading volume, with $25.15 billion recorded in 24 hours, according to CoinMarketCap. This shows active market participation even after a brief correction from the recent high of $2,736.
Resistance Levels and Whale Behavior
Ethereum is approaching key resistance levels. Market analyst Ali noted that $3,100 is the next strong resistance, while support is seen near $2,233. Henry, another analyst on X, commented that “$2,800 is not a big deal for ETH” and emphasized a much larger rally ahead.
Large holders have also shown accumulation trends. According to CryptoQuant data, over $1.2 billion worth of ETH has been withdrawn from exchanges, a behavior typically associated with long-term holding. These outflows reduce sell-side pressure and may further support ETH’s upward move.
Ethereum’s breakout above long-standing resistance could be the beginning of a larger trend. Bullish targets such as $3,063, $3,566, and $4,201 remain active as long as current support zones hold.
