Ethereum shows strong buyer support near $3,369 as it mirrors its 2016 breakout setup, signaling a possible rally above $4,000 soon.
Despite a small dip, Ethereum remains bullish with rising demand and chart patterns hinting at another explosive run like in 2017.
With ETFs, institutions, and global adoption in play, Ethereum’s $2K–$4K range could be the launchpad for its next major breakout.
Time is running out for Ethereum skeptics as it approaches a crucial breakout moment that might spark its next significant bull run. At $3,590.60, the second-largest cryptocurrency is down 3.51% from its most recent peak of close to $4,000. Analysts think the decline might not last long, though.
Crypto analyst Ted highlights that Ethereum is showing more strength than Bitcoin. Buyers are aggressively stepping in at key support zones. Dips are being quickly bought up, signaling strong underlying demand. Ted believes a $4,000 Ethereum is inevitable, especially if support holds near $3,369.
Ethereum Repeats 2016 Pattern with Institutional Backing
Ethereum’s 2025 chart now mirrors its legendary 2016-2017 cycle. Merlijn, a seasoned trader, notes a near-identical range, fakeout, and rounded base structure. In 2016, Ethereum hovered between $8 and $20 before exploding past $400. That move delivered over 2,000% gains.
Currently, Ethereum has been consolidating in a similar fashion between $2,000 and $4,000. Moreover, the structure and timing closely resemble the early phases of the last bull run. The green arrows and red curves on both charts align precisely, marking correction and breakout zones.
Source: Merlijn The Trader
However, this time the backdrop is vastly different. Unlike 2016, the 2025 market includes ETF activity, institutional investors, and rising global adoption. Wall Street isn’t watching from the sidelines anymore. They’re already positioned, making a case for much stronger upside potential.
Pullback or Launchpad? The Market Awaits Confirmation
Despite the bullish setup, Ethereum's recent price reversal is raising short-term concerns. The asset touched $4,000 before falling, forming a potential “fakeout” pattern. This signals some sellers are taking profits near resistance.
However, the Supertrend indicator shows strong support at $3,369.35. If Ethereum holds above this level, a fresh rally remains in play. Buyers continue defending dips, and trading momentum suggests renewed upside could emerge.
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