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The ETH price has displayed renewed bullish momentum in the most recent session. This advancement occurred following a sharp dip to $3,357 earlier in August.
Since then, the Ethereum price has surged past $3,550, with multiple technical patterns and significant whale accumulation. Now, experts are pointing toward a potential breakout beyond $3,900 and possibly $4,100 in the short term.
ETH Price Breaks Out From August Lows
After a bleeding start to August from a sell-off, the ETH price today sits at $3,554, rebounding strongly from a low of $3,357 recorded on August 3rd.
This reversal began mid-morning on August 3rd, pushing the price up by nearly $200 within 24 hours, highlighted on a 15-minute chart. He revealed that ETH price is poised for an 11% rise targeting beyond $3900 level.
According to short-term charts on 15-minute and 1-hour timeframes, Ethereum USD is in a clear uptrend.
In fact, a different analyst has also aligned this optimism; he revealed a textbook inverse head and shoulders pattern on a 1-hour chart, with its neckline already breached.
Now his targets range between $3,777 and $3,985, aligning with growing optimism in the broader market.
Technical Patterns Signal Continuation of Uptrend
Beyond short-term formations, the ETH price chart on the 4-hour timeframe confirms a solid support structure forming just below current levels. This shows that the Ethereum USD appears to be holding this support well, increasing the likelihood of testing and possibly flipping the $3,900 resistance zone.
If the trend continues, the Ethereum price prediction for the near term suggests a surge toward the $4,100 level, per the analyst. The analyst even believes that if such a breakout manifests on this 4-H chart, it would be a trigger for a broader altcoin rally. This makes the upcoming Ethereum’s move extremely vital, which may act as a market catalyst.
In support of this scenario, Ted Pillows mentioned that the liquidity data shows a heavy build-up around the $4,000 region. This level is acting like a magnet, which can be clearly seen attracting both institutional and retail interest as the market recovers from the recent dips.
Smart Money Signals Accumulation on Ethereum Dip
Fueling this bullish sentiment is significant whale activity. Recent data shows that large holders on platforms like Hyperliquid are predominantly taking long positions.
Moreover, a wallet linked to SharpLink Gaming reportedly acquired $105 million worth of Ethereum, further validating the accumulation narrative.
These institutional flows suggest strong confidence in Ethereum’s medium-term price direction. The ETH price USD has remained steady around $3,550-$3,600 even after multiple tests, highlighting resilience in the current trend.