Ethereum Price Stabilizes Within Symmetrical Pattern, Anticipates Potential 17% Breakout
As of mid-April 2025, Ethereum (ETH) is exhibiting consolidation behavior within a symmetrical triangle formation on daily charts, signaling a period of equilibrium between buyers and sellers. Technical analysts highlight this compression phase often precedes significant volatility, with a measured move projection suggesting a 17% price swing upon resolution. The pattern’s converging trendlines indicate diminishing trading ranges, while volume analysis shows weakening participation – typical characteristics before decisive breakouts. Market participants are closely monitoring the $3,400 support and $3,800 resistance levels, with the impending move’s direction likely to determine ETH’s medium-term trajectory. This technical setup emerges amid mixed on-chain metrics, including declining exchange reserves but subdued network growth, creating fundamental ambiguity that may amplify technical signals.
- Ethereum gained 5.58% in 24 hours, now trading at $1,666 with $16B volume.
- Analyst Ali Martinez sees a 17% move possible as ETH nears triangle apex.
- Merlijn the Trader envisions a bullish pennant setup targeting a long-term rise to $8,000.
Ethereum has climbed back above the $1,600 line, now priced at $1,666, with a 5.58% gain over the past day. Trading volume also jumped by 26.32%, reaching $16 billion. This latest movement has stirred interest among analysts, who are tracking technical signals that may point to a major shift.
Ali Martinez, a well-followed analyst on X, highlighted that Ethereum is consolidating inside a symmetrical triangle on the hourly chart. “Ethereum $ETH is currently consolidating within a symmetrical triangle on the hourly chart, hinting at a potential 17% price move,” he wrote.
Additionally, this triangle is sitting tightly within important Fibonacci levels. At that time, Ethereum was trading NEAR the 0.5 Fibonacci retracement level at $1,646. Resistance lies at $1,714.94 and $1,804.05, while support rests around $1,568.13 and extends down to $1,384.00. A confirmed breakout above $1446 level could push ETH to the $1,900 range, while a breakdown may drag it below the $1,400.
Ethereum Withdrawal Suggests Accumulation
A major move has added intrigue to Ethereum’s trajectory. Lookonchain, a blockchain tracker, noticed a big player shift 15,953 ETH—worth around $26.16 million—from the OKX exchange into Aave, a DeFi platform. Right after that, the wallets borrowed $15.4 million in USDT against the ETH and funneled the money back to OKX.
Withdrawing such a large amount of ETH and locking it in a lending protocol signals long-term confidence in the asset. This type of activity often hints at accumulation by seasoned investors, known to foreshadow bullish momentum. The cycling of borrowed funds back to the exchange may be a setup to purchase even more ETH or expand exposure to other assets.
Such activity reduces sell pressure on exchanges and can help set the stage for upward movement, especially if other indicators align in Ethereum’s favor.
Bulls Eye Higher Ground with $8,000 Vision
Meanwhile, One analyst holds a more optimistic view, pointing to a small bullish candlestick that features long upper and lower shadows. This formation, coupled with the highest weekly trading volume on Binance spot since November 2022, suggests that $1,385 may represent Ethereum’s bottom. The combination of candlestick structure and volume provides early signs of a potential trend reversal.
For confirmation, the analyst notes that both this week and next week should close with bullish candlesticks, with Ethereum maintaining levels above $1,700—ideally near $1,800. If that scenario unfolds, it could establish a reliable weekly bottom pattern, reinforcing the outlook for a sustained recovery.
In addition, Trader Merlijn The Trader highlighted that Ethereum is forming a bullish pennant—a pattern that often signals continuation after an upward move. Combined with years of sideways consolidation, he refers to this as an “explosion setup,” confidently projecting that ETH could climb toward the $8,000 mark in the near term.
$ETH to $8K isn’t a meme it’s the plan!!,” analyst noted.
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