Ethereum rallied 60% in a month, now consolidating near $3,500 as it approaches $4,000 resistance.
Whale activity and wallet growth suggest rising demand and increased participation across the ETH network.
Analysts see similarities with 2021, forecasting a potential breakout if ETH clears the $4,000 level.
Ethereum (ETH) surged 60% over the past month, marking one of its strongest rallies in years. This upward move brought ETH close to the $4,000 resistance zone. However, short-term selling pressure is now emerging, and price consolidation may take place before the next breakout. At the time of writing, ETH was trading at $3,503.
Price Correction Follows Strong July Performance
Ethereum gained 48% in July, outperforming Bitcoin’s 8% gain over the same period. This performance reversed two years of July losses and positioned Ethereum for further growth, although some correction is now evident.
https://twitter.com/TedPillows/status/1951279248083181899
Analyst Ted Pillows observed that “ETH pumped 60% in a month, and now a correction is happening.” Technical indicators show ETH pulling back toward the $3,600–$3,500 range, a zone viewed by many traders as an area for possible consolidation.
Chart patterns from previous cycles indicate similar phases. In 2021, Ethereum formed a temporary dip before rallying to a new all-time high. A similar pattern is now forming, with some analysts expecting history to repeat based on symmetrical price structure.
ETH Consolidation May Set Stage for Next Breakout
Crypto analyst Crypto Rover noted that Ethereum is currently approaching the key resistance area around $4,000. A break above this level could lead to a new all-time high, especially if institutional interest remains strong. Volume levels and RSI movement are being monitored for confirmation.
Meanwhile, whale activity is increasing. According to Sentora data, addresses holding 10,000 ETH or more reached levels not seen since 2023. Additionally, on-chain data shows over 931,000 ETH wallets moved funds recently, signaling growing participation.
Crypto Caesar posted on X that Ethereum saw a breakout in 2017, another in 2021, and now a 2025 breakout is loading. He pointed out that these repeating trends suggest Ethereum’s long-term trajectory may continue rising. He explained that the current correction is part of a normal market cycle.
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