Ethereum Finds Critical Support Level: Will It Trigger a Significant Rally?

Wyckoff Accumulation Model: Understanding the 2,900 Dollar Significance

An analyst from Bitcoinsensus interprets Ethereum’s current decline as the “Last Point of Support” (LPS) based on the Wyckoff accumulation model. This stage represents a period where prices gather strength for a new upward wave after a prolonged sideways movement. The chart highlights previous phases such as selling climax, automatic rally, and secondary test, pointing to a broad consolidation process between 2022–2024.

Currently, the zone just below 3,000 dollars mirrors patterns observed in early 2025. In the projections, if this support is maintained, prices could initially move to the upper band of the range and then, with a “Sign of Strength” (SOS), could head towards 5,000 dollars and beyond. However, the mid-4,000 dollar range, previously a rejected level, remains a formidable resistance.

Short-Term Outlook: 3,300 and 3,600 Dollar Resistances

The daily ETH/USDT chart shared by That Martini Guy provides a shorter-term perspective. Here, 3,300 dollars stands as the main resistance, while 3,600 dollars emerges as a secondary barrier where supply intensifies. On downward movements, the support area just above 2,900 dollars is being tested. A bounce from this level might push the price back to the middle range.

The analyst suggests that consistent closes above 3,300 dollars could pave the way towards 3,600 dollars. However, dropping below 2,900 dollars might bring the 2,800 dollar support into focus. This current formation indicates that Ethereum is at a “decision point” in determining its direction.

Besides these technical discussions, there is increasing institutional interest in spot Ethereum ETFs in the US, which is a topic of discussion in the market. Some fund providers are planning to integrate staking returns into their products, potentially increasing ETH demand in the medium term.

In conclusion, Ethereum is navigating a sensitive juncture where both technical and fundamental developments intersect. Sustained levels above 2,900 dollars could bolster investor confidence, while a break below might herald a more cautious market atmosphere.