Ethereum Repeats Bitcoin’s 2017-2021 Bull Run – $4,000 Is the Make-or-Break Level

History doesn't repeat, but it often rhymes—and Ethereum's chart is singing Bitcoin's 2017-2021 anthem. The $4,000 mark isn't just psychological resistance; it's the launchpad for the next leg up.

Why $4,000 Matters

Break it, and ETH mirrors BTC's four-year parabolic rally. Stall here, and traders face another 'buy the rumor, sell the news' cycle—Wall Street's favorite crypto pastime.

The Cynical Take

Of course, institutional analysts will claim they saw it coming—right after they finish downgrading ETH for 'regulatory concerns.'

Ethereum Builds Momentum As Market Awaits Clarity

Ethereum is currently trading in a tight range, consolidating just above the $2,600 level and holding firm despite macroeconomic and geopolitical headwinds. After rallying nearly 80% from its April lows, ETH appears to be preparing for a decisive MOVE in the coming sessions. However, with escalating tensions between Israel and Iran and uncertainty surrounding possible U.S. involvement, broader markets remain cautious. Until clarity emerges on the geopolitical front, sideways price action may persist.

Still, Ethereum’s price structure remains constructive. Strong consolidation above key demand zones reflects ongoing buyer interest and a lack of heavy selling pressure. This behavior often precedes major moves, as investors accumulate ahead of expected volatility. Some market participants remain cautious, warning of a possible retrace below the $2,400 level if demand falters or broader risk sentiment weakens.

In contrast, bullish analysts like Ted Pillows suggest a more optimistic outlook. According to Pillows, Ethereum is closely following the path Bitcoin took during its 2017–2021 cycle, where tight consolidation ultimately led to a breakout and parabolic rally. In this view, ETH’s real explosive phase won’t begin until it breaks above $4,000. If this scenario plays out, Ethereum could trigger a broader altcoin surge and shift overall crypto market sentiment bullish once again.

ETH Technical Analysis: Consolidation Near Key Levels

The 3-day Ethereum chart shows a prolonged consolidation phase as ETH trades near the $2,500 mark. Despite geopolitical uncertainty and rising macroeconomic risks, Ethereum has held above the $2,400 support zone, forming a tight range just below the critical resistance at $2,775. This area also coincides with the 200-day SMA (red line), which continues to cap upward momentum.

ETH remains above the 50-day (blue) and 100-day (green) SMAs, suggesting bullish momentum is intact, though lacking follow-through. The recent candle bodies show decreasing volatility, with wicks on both sides being absorbed—a classic sign of compression that often precedes a large move.

Related Reading: Ethereum Golden Cross Approaching – Will History Repeat?

Volume has declined slightly compared to the breakout in early May, indicating a temporary pause in bullish conviction. However, if Ethereum manages a higher close above the $2,775 resistance, it could trigger an impulsive breakout targeting the $3,000 level. On the downside, a break below $2,400 WOULD invalidate the current structure and expose ETH to a deeper correction toward $2,100.

Featured image from Dall-E, chart from TradingView