Artem Voloskovets
Ethereum has been testing the $3,750 support level three times recently, creating what traders call a triple bottom pattern. This technical setup usually signals that the market's building strength for an upward move. With $4,000 acting as the key resistance, many are watching to see if ETH can finally break through and start climbing toward $4,280.
The Setup: Triple Bottom Pattern at $3,750
According to Joe Swanson, looking at the 4-hour chart, ETH keeps bouncing off $3,750. Each time it hits this level, buyers step in and push the price back up. That's your classic triple bottom—three tests of support that hold firm. When you see this pattern, it often means sellers are running out of steam and buyers are getting ready to take control. The $4,000 level is where things get interesting. ETH has struggled to break above it, but if it does, we're looking at a quick 10% jump to around $4,280. That's the immediate target most analysts are eyeing right now.
There's more to this story than just chart patterns. Institutional money keeps flowing into Ethereum, especially with all the buzz around DeFi and NFTs. Big players are positioning themselves, and that creates demand. The shift to Ethereum 2.0 and Proof-of-Stake is making the network more efficient and environmentally friendly, which gives long-term investors more confidence. Plus, Ethereum's still the go-to blockchain for decentralized finance apps, and as DeFi grows, so does ETH's value. The broader crypto market's been trending up too, and when Bitcoin moves, Ethereum usually follows.
What Happens Next?
For this breakout to work, ETH needs to clear $4,000 with conviction. We're talking about a clean break with strong volume—not just a quick spike that fades. If that happens, $4,280 becomes the next stop, and potentially higher from there. On the flip side, $3,750 remains crucial support. If ETH drops below that, the whole bullish setup falls apart and we might see lower prices.
The triple bottom at $3,750 and the consolidation below $4,000 are setting up Ethereum for a potential breakout. If ETH can push through $4,000, that 10% move to $4,280 looks realistic. The fundamentals support it, the technicals point to it, and the market sentiment's there. For anyone holding ETH or looking to buy, this could be the setup you've been waiting for—just make sure that $4,000 level actually breaks before getting too excited.
Artem Voloskovets
