“Ethereum Is Arming the Next Blast”: Analyst Compares Current Setup to Bitcoin’s 2020 Breakout

Ethereum mirrors Bitcoin’s 2020 setup with accumulation, resistance tests, and breakout potential.

Whale buys and $1.08B ETF inflows show strong institutional confidence in Ethereum’s upside.

Ethereum retests $4,400 support after wedge breakout, with targets set at $5,000–$5,500.

Ethereum is forming a structure that analysts compare to Bitcoin’s setup in 2020. Market charts reveal accumulation, re-accumulation, and repeated resistance tests, which were phases also seen during Bitcoin’s run toward $60,000. Analysts describe the cycle as “same disbelief, same wall, same outcome,” indicating Ethereum could be preparing for a strong breakout.

Ethereum Market Structure and Technical Setup

According to Merlijn The Trader, “Ethereum is arming the next blast,” with charts showing phases resembling Bitcoin’s 2020 cycle. Ethereum’s price has recorded repeated resistance tests followed by recoveries, forming higher lows across several weeks of trading. This structure reflects both accumulation and re-accumulation stages, often associated with future rallies.

Current trading data shows Ethereum at $4,418.23, equal to 0.03933 BTC, according to CoinGecko. The token’s 24-hour range was between $4,269.81 and $4,422.91, while market capitalization stood at $533.21 billion. Trading volume reached $31.40 billion, with circulating supply at 120,705,220 ETH, matching total supply, confirming liquidity consistency across the market.

Source: CoinGecko

Mister Crypto observed that Ethereum recently broke above a descending wedge resistance and retraced to retest the breakout zone near $4,400. This move confirmed previous resistance as new support, aligning with patterns that often lead to continuation toward higher targets.

Institutional Flows and Whale Accumulation

Institutional activity continues supporting Ethereum’s market positioning. Grayscale filed for the Ethereum Covered Call Fund, which aims to allow investors to generate income from call option premiums. Covered call strategies have been used in traditional markets to provide consistent yields, and their presence in Ethereum signals expanded adoption.

On-chain data also recorded notable whale activity. One whale purchased $100 million worth of Ethereum, while another rotated from Bitcoin by selling 4,000 BTC and buying nearly 97,000 ETH. This kind of accumulation reflects confidence in Ethereum breaking higher resistance zones.

ETF inflows remain strong, with Ethereum products adding over $1.08 billion in net inflows last week. Analysts say these movements confirm institutional interest, supporting Ethereum’s potential to retest upper levels, with targets ranging between $5,000 and $5,500 if momentum continues building.

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