Ethereum triple bottom setup hints at a $4K breakout next
Ethereum's triple bottom pattern near $3,750 suggests a potential 10% rebound toward $4,280 if it breaks $4,000 resistance.Summary
Ethereum (ETH) is showing signs of a potential bearish reversal indicated by a triple bottom pattern on the 4-hour chart, with support established around $3,750–$3,800. For this bullish setup to confirm, ETH needs to break decisively above the neckline resistance near $3,950–$4,000, which aligns with the 50-period EMA. A successful breakout could propel ETH toward a target of approximately $4,280, representing a 10% increase. On-chain data reveals that during the recent price decline, large wallets (mega whales holding 10,000–100,000 ETH) have been accumulating ETH rapidly, absorbing supply from smaller holders (1,000–10,000 ETH balances). This accumulation by major players supports the potential for a bullish move, provided buying volume spikes upon the breakout.
(Source：Cointelegraph)