Here’s when Ethereum’s ‘real breakout begins’ as whales go big on ETH
A cryptocurrency trading expert has identified a key level that could confirm Ethereum’s (ETH) bullish momentum, as whales continue to accumulate the second-largest digital asset by market cap. According to Ali Martinez, Ethereum must decisively break above the $4,100 resistance level to trigger its next major rally, as he noted in an X post on July 29. The Analysis is based on the weekly chart, where the asset has shown a strong recovery from its lows around $1,500 earlier this year. Recent candles indicate a steady climb above key support zones at $2,200 and $3,300. ETH price analysis chart. Source: TradingView Currently, ETH is trading just below the critical $4,100 level, which has previously acted as a point of rejection. As per the outlook, a confirmed breakout and close above this zone could pave the way toward $5,000 and beyond. The Analysis projects a period of sideways consolidation just under $4,100 before an anticipated breakout, aligning with a b...