Can Ethereum Price Hit $4,000 Despite the Recent Crash

Ethereum price was trending downward in the past week, triggering concern among traders and investors. However it is looking possible that

After 42 days of trading sideways, market sentiment splitting between bulls and bears, the $2,850 level might be decisive.

Ethereum Price Stabilizes Inside 42-Day Range

Ethereum price traded within a well-defined horizontal channel for the past six weeks, with resistance near $2,850 and support around $2,350.

According to analyst Kans, rejection to red zone between $2,800 – $2,850 recurrently indicates a high selling pressure.

Simultaneously, buyers are filling the gap regularly at the green support band, averting a continuing decline.

This prolonged consolidation indicates increasing pressure that may be followed by a sudden break. If Ethereum price breaks above $2,850 with volume confirmation, analysts expect a rally toward $4,100.

Nonetheless, if the price dips below $2,350, it may open ETH to lower prices towards $2,200 or even $2,000.

Long consolidations like this one have historically preceded breakout periods, so it will be important to watch the current range.

Fractal Comparison Shows ETH Repeating January Pattern

Trader Tardigrade Alan posted a chart showing Ethereum price trend in June 2025 closely mirrors its January 2024 pattern.

During the two timeframes, the altcoin price was consolidating in the top side of a tight box. It was making higher lows and hit a horizontal line. Such a previous trend caused a strong escape of the $2,400 area to almost $4,000 in weeks.

If Ethereum price follows the same fractal path, the current consolidation could act as a springboard toward the $4,000–$4,100 level.

The two set ups are visually symmetrical and this has drawn the attention of the retail traders and the institutions tracking high-probability technical constructs.

If ETH price maintains its range and breaks above $2,850, the pattern would be confirmed and likely attract significant momentum.

Whale Trader Builds $97M Short But Still Holding Gains

However, short-term sentiment has been countered by a high-profile whale trade despite the bullish setup.

Lookonchain data showed a trader with the address 0xcB92 has a short position on Ethereum worth on $97 million.

His track record of near flawless entries and exits has made the trader one of the most followed in the Ethereum ecosystem.

Last month, he earned more than $20 million and his unrealized profits were at $14.8 million. He went short near the local top, just before ETH price reversed from the $2,850 resistance.

The decision to hold the position despite rising unrealized gains indicates high conviction that Ethereum price may see another leg down.

If ETH price breaks above resistance, however, this short could be liquidated, adding fuel to a bullish breakout.

Tension Builds Around $2,850 as Bulls and Bears Face Off

Notably, Ethereum price structure is now approaching a critical moment. This narrowed range raises the likelihood of a breakout or breakdown during the subsequent sessions.

Open interest is on the low side. However, a spike or a large liquidation would provide the impetus to the next move.

Technicals are pointing to the bullishers ending, according to the fractal structure, yet whale shorts make traders keep the cautious approach.

As Ethereum price trades near the midpoint of this compression zone, the market awaits confirmation.

However, the top altcoin is still facing bearish pressure, declining by over 4% to $2400 in the last 24 hours at press time.

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