Ethereum Retests Key Macro Support, Analysts Eye Breakout Toward Fresh Record Levels

The Ethereum price action around the levels of $4,000 coincide with its long-term macro uptrend line, which serves as a solid structural support of future bullish action.

Analysts point to a bullish pennant formation on the monthly chart, which could bring Ethereum to repeat its market hear-say gains in 2017.

Large-scale accumulation is being renewed again with institutional wallets, as Bitmine spent 1.5b to acquire Ethereum, which reinforces the bullish market expectations of Ethereum in the years before 2025.

Ethereum is holding on to its long-term macro trend line firmly, suggesting that the market is gaining confidence from investors again prior to another cycle of bullish run. The analysts suggest that the asset is gearing up to break into new all-time highs above $5,500.

Ethereum Holds Its Macro Structure Strongly

According to FOUR | Crypto Spaces (@X_Four_iv), Ethereum is positioned precisely on its macro uptrend line, a level that has historically triggered strong recovery rallies. The price recently retested a key support zone near $3,900–$4,000, which aligns with the ascending trendline that has guided Ethereum’s structure since early 2025.

Market participants view this confluence as a high-conviction accumulation area, where long-term holders and institutions often step in to defend the broader uptrend. The analyst added that each touch on this macro line, shown by green circles and arrows, previously led to powerful expansions. A confirmed rebound from this level could initiate the next upward cycle.

A decisive bullish candle on the weekly timeframe may validate a continuation phase, with targets now extending beyond the $5,500 level. This outlook positions Ethereum as one of the stronger technical setups among major assets on higher timeframes.

Analysts See Parallels to 2017 Market Structure

Market trader Merlijn The Trader compared Ethereum’s present formation to its 2017 structure, calling it “the most explosive setup since 2017.” He noted that Ethereum is forming a textbook bullish pennant on the monthly chart, a classic continuation pattern that often precedes major breakouts.

Historical cycles suggest that such consolidations during uptrends have led to long-term momentum expansions. Traders observing this pattern indicate that Ethereum’s current formation could mark a similar phase, where accumulation precedes a sharp upside continuation.

This technical setup reinforces Ethereum’s broader bullish bias, especially as market cycles align with its established structural support. The consistent higher lows and sustained volume strength further support expectations of renewed market expansion.

Institutional and Whale Activity Adds to Market Confidence

The institutional demand, on their part, also seems to be picking up, with Bitmine led by Tom Lee having allegedly bought more than 1.5 billion of Ethereum, which suggests active acquisition of the asset by large-cap players. These one-off purchases, which are highly valued are usually an indication of increasing confidence in the long-term value of the asset.

Adding to the sentiment, Crypto Guru reported that a wallet known as “Barron Trump Insider” purchased $100 million in Ethereum, marking another notable entry from a consistently profitable address. The trader’s 100% success rate in prior market moves has drawn attention from the crypto community.

These moves, together with the technical correlation in the Ethereum macro uptrend line, indicate increasing institutional involvement. Etheresum has a structure that is standing to be able to make a price discovery in its future sessions as long as the trendline support is in place.

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