Ethereum has been struggling to break above the $2,800 resistance level for several days, and sentiment around the world’s second-largest cryptocurrency is turning increasingly bearish. Persistent selling pressure has left investors and analysts questioning Ethereum’s resilience, with many beginning to lose hope in a near-term recovery.
Compared to Bitcoin and other major assets like Solana, ETH’s underperformance has only deepened the pessimism, frustrating even seasoned market participants who expected stronger momentum this year. Despite these short-term challenges, there are still compelling reasons for optimism—especially when examining the broader technical picture.
A Long-Term Bullish Structure Still Intact
While current price action may appear discouraging, top-tier analyst Jelle recently shared a technical analysis suggesting that Ethereum remains within a multi-year ascending triangle pattern—a historically bullish formation that often precedes explosive price movements.
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An ascending triangle is characterized by a flat resistance level and a rising support trendline, indicating growing buyer interest at higher lows. Each time the price tests the upper resistance—currently around $4,000—it fails to break through, but the repeated retests from higher swing lows suggest accumulating strength.
Jelle notes that Ethereum has already tested the $4,000 supply zone three times. Historically, fourth attempts at key resistance levels often result in breakthroughs, especially when accompanied by increasing volume and reduced selling pressure. If ETH finally clears $4,000, it could trigger a powerful rally into uncharted territory.
This pattern implies that Ethereum may not be weakening—but consolidating. Behind the scenes, long-term holders and institutional players could be accumulating, setting the stage for a decisive breakout.
Why the Next Move Could Be “The Real One”
According to Jelle’s analysis on X (formerly Twitter), Ethereum’s repeated push against resistance and formation of higher lows indicate that the next price movement could be the long-awaited decisive move. When a market trades within a tight range for an extended period—especially after years of development—it often builds energy for a significant directional shift.
The ascending triangle on Ethereum’s weekly chart suggests that volatility is being compressed. In technical terms, this is known as "coiling," where momentum builds before releasing in one direction. Given Ethereum’s fundamental strengths—including its dominant role in DeFi, NFTs, and smart contract platforms—many experts believe the eventual breakout will favor the bulls.
However, confirmation is key. For the bullish thesis to hold, Ethereum must first defend critical support near $2,600. This level has acted as strong demand in previous cycles and remains a psychological and technical floor for investor confidence.
Key Levels to Watch: Support and Resistance
Currently trading around $2,650, Ethereum has failed to reclaim the $2,800 milestone since last Wednesday. This ongoing struggle reflects broader bearish sentiment that has dominated ETH’s price action since late December. With momentum still favoring the bears, bulls face an uphill battle to regain control.
To reverse the current downtrend, Ethereum needs to achieve three milestones:
- **Hold above $2,600** – This level has historically served as a strong support zone. A sustained break below could open the door to further downside, potentially toward $2,400 or lower.
- Reclaim $2,800 – Breaking and closing above this resistance would signal renewed buying interest and could attract short-term traders back into the market.
- **Surpass $3,000** – A decisive move past $3,000 would confirm a shift in market sentiment and likely trigger a wave of institutional and retail buying.
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If Ethereum successfully clears these levels, it could accelerate toward the $4,000 resistance—and beyond. Clearing this zone would not only validate the ascending triangle breakout but also restore confidence among investors who have grown skeptical amid prolonged consolidation.
Market Sentiment and Investor Behavior
Market psychology plays a crucial role in determining price direction—especially during periods of uncertainty. After months of sideways movement and repeated failed breakouts, many retail investors have become disillusioned. Social media sentiment has turned increasingly negative, with growing doubts about Ethereum’s ability to lead the next bull cycle.
Yet, on-chain data tells a different story. Long-term holders continue to accumulate, exchange outflows remain elevated, and staking participation has reached new highs. These metrics suggest that strong hands are still confident in Ethereum’s long-term value proposition.
Moreover, upcoming network upgrades—such as further improvements to scalability and Layer-2 adoption—are expected to enhance Ethereum’s utility and efficiency. As real-world usage grows, so does the argument for higher valuations.
Frequently Asked Questions (FAQ)
Q: What is an ascending triangle pattern?
A: An ascending triangle is a bullish continuation pattern formed by a flat resistance level and rising support trendline. It typically signals accumulation before a potential breakout.
Q: Why is $4,000 such an important level for Ethereum?
A: $4,000 represents a major supply zone where large sell orders have previously entered the market. Clearing it would indicate strong buying pressure overcoming historical resistance.
Q: What happens if Ethereum breaks below $2,600?
A: A sustained drop below $2,600 could trigger further selling, with next key supports at $2,400 and $2,200. It would also invalidate the current bullish structure.
Q: How reliable are long-term technical patterns like this one?
A: While no pattern guarantees future moves, multi-year formations on weekly charts carry significant weight—especially when aligned with fundamentals and on-chain data.
Q: Is Ethereum still relevant in 2025?
A: Absolutely. With its leading position in DeFi, NFTs, and smart contracts—plus ongoing tech upgrades—Ethereum remains a cornerstone of the Web3 ecosystem.
Q: What catalysts could drive ETH higher?
A: Potential catalysts include ETF approvals, increased institutional adoption, Layer-2 growth, and macroeconomic shifts favoring risk assets.
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Final Outlook: Patience Before the Breakout
Ethereum may be stuck in a frustrating range today, but history shows that such periods often precede major market moves. The multi-year ascending triangle remains intact, supported by strong fundamentals and strategic accumulation.
While short-term traders focus on daily fluctuations, long-term investors should view this consolidation phase as preparation—not stagnation. The next decisive move—whether up or down—will likely define Ethereum’s trajectory for months or even years to come.
For now, all eyes are on $2,600 support and $2,800 resistance. A successful reclaim of these levels could pave the way toward $3,000 and ultimately challenge the critical $4,000 barrier.
In volatile markets, timing is everything. Staying informed, managing risk, and understanding long-term patterns can make all the difference between missing out—and catching the next big wave.
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