Ethereum (ETH) is currently trading near the $4,100 mark, with a daily trading volume of $27.6 billion. While the asset has experienced a slight dip over the past 24 hours, it remains up more than 6% over the last week. Traders are closely monitoring key price levels to determine whether ETH will continue its sideways movement or initiate a new upward trend.
Historical Patterns Suggest Potential for Rally
Recent price action in Ethereum has drawn comparisons to past market setups that preceded significant rallies. Analyst Galaxy has highlighted that ETH’s current chart structure bears a resemblance to the pattern observed between June and July of 2025. During that period, ETH saw a substantial increase, moving from approximately $2,500 to $3,800 after forming lower lows and subsequently trading within a tight range.
$ETH
Looking like June-July 2025, before the run from $2500 to $3800.
We could very well be in the consolidation phase before the run to new all time highs. pic.twitter.com/HIKQhhU9FZ
— Galaxy (@galaxyBTC) October 28, 2025
The current chart analysis indicates that ETH is again consolidating within a narrow price band, fluctuating between $4,000 and $4,150. This sideways movement, characterized by a lack of new lows, is being interpreted by some market observers as a potential consolidation phase that could precede an upward breakout.
Further reinforcing this outlook, another analyst, Crypto Rover, has shared a comparative chart illustrating a similarity between ETH’s current structure and the pattern observed in late 2020. In that previous cycle, Ethereum traded within a confined range before experiencing a significant breakout in November, which led to sustained rallies in the subsequent months.
The chart presented by Crypto Rover depicts a descending channel forming shortly after ETH’s low in March 2025, a setup that mirrors the conditions prior to the 2020 breakout. Based on this technical analysis, the timing for a potential move could fall between late October and early November.
Traders Focus on Resistance Levels
Analyst Ted has noted that Ethereum recently encountered resistance above the $4,250 mark, leading to a pullback that retested support levels near $4,050. Despite this, Ted expressed optimism, stating that Ethereum is currently showing a strong bounce-back and could potentially rally towards the $4,200–$4,300 range again today.
“So far, Ethereum is showing a strong bounceback and could rally toward the $4,200–$4,300 level again today,” he wrote.
As previously reported, ETH is exhibiting a "Power-of-3" pattern. A decisive move above the $4,250 resistance level is widely anticipated by traders to trigger what they perceive as the next phase of expansion for the asset.
Market Activity and Developer Discourse
In recent market activity, Ethereum-based investment funds experienced outflows totaling $169 million last week. This marked the end of a five-week streak of consistent inflows. Despite these outflows, interest in leveraged ETH products remains robust, suggesting continued demand for short-term trading opportunities.
Concurrently, a notable discussion has emerged within the cryptocurrency community regarding Ethereum's Layer 2 security. Ethereum co-founder Vitalik Buterin and Solana's Anatoly Yakovenko have engaged in a debate on the topic, raising important questions within the community about the actual security of these Layer 2 networks.