- Ethereum retests $4,300 zone for the third time with $8B in August demand supporting strength.
- ETH accumulation wallets hold 24.3M coins, reducing circulation and boosting long-term support.
- Ethereum surged 3.5x in four months while holding above $4K, showing whale-driven market momentum.
Ethereum has returned to a rare trading zone that it has tested only three times in history. In 2021, this level marked exhaustion and price retracement. This time, Ethereum enters the range with record demand, as over 1.5 million ETH, worth $8 billion, were purchased in August alone.
Ethereum Revisits Historical Resistance Zone
The chart shows Ethereum trading around $4,464 with a daily range between $4,340 and $4,491. According to data from Coingecko, market capitalization stands at $538.88 billion, supported by a trading volume of $19.78 billion in 24 hours.
The supply remains fixed at 120,706,584 ETH, with no maximum supply defined. According to an analysis by Milk Road, Ethereum has tested the $4,300 to $4,400 zone only three times.
The first touch occurred in May 2021, followed by another retest in October and November 2021. Both periods ended in exhaustion, leading to extended declines. The third touchpoint is recorded now in 2025, showing a structurally stronger setup than before.
Demand and Supply Dynamics Shift
Ethereum’s current position is supported by stronger demand mechanics. Over 1.5 million ETH were purchased in August 2025, exceeding $8 billion in inflows. According to CryptoQuant, accumulation addresses now hold 24.3 million ETH, showing growth across multiple correction phases. These wallets consistently buy and hold ETH without selling, reducing active circulation supply.
This trend reflects a major shift, as ETH is now being bought faster than it is being issued. BitBull noted that Ethereum surged nearly 3.5x within four months while still holding above the $4,000 level. Whale buying continues to rise, suggesting further structural strength in the current cycle.
The repeated structure resembles earlier market cycles, but demand and supply shifts are making this retest stronger. Observers expect Ethereum to maintain momentum, with projections indicating potential rallies beyond current resistance zones if the trend continues.
