Ethereum News Today: Ethereum Breaks Triangle Pattern Amid Strong Whale Accumulation and 19 25 Weekly Gain

Ethereum has recently confirmed a breakout from a multi-year symmetrical triangle pattern, a technical formation that had contained the price between ascending support and descending resistance since its 2021 high. The move above key resistance levels has ignited speculation about a potential price surge toward $8,000, a target derived from the triangle’s height and projected from the breakout point [1]. Analysts have emphasized that maintaining the price above the $4,000–$4,200 range is crucial to confirming the breakout’s validity and ensuring continued upward momentum [2].

The breakout coincided with significant on-chain activity and accumulation from large holders. Over 1.80 million ETH were purchased by whales in the last month, signaling strong long-term confidence in Ethereum’s value proposition [1]. This accumulation occurred amid a broader market rally, with ETH gaining 7.73% in the last 24 hours and 19.25% over the past week, trading at $4,194.60 as of the latest data [1]. Daily trading volume reached $40.76 billion, reflecting heightened market participation and institutional interest.

Crypto analyst Titan of Crypto highlighted that Ethereum has been consolidating within a large monthly triangle pattern. A confirmation above $3,800—seen as a critical psychological and technical level—would validate the bullish case and potentially unlock a measured move toward $8,000 or beyond [2]. Gert van Lagen, another prominent analyst, suggested that Ethereum could be positioning for an even more significant move, with a potential price target of up to $9,000, driven by improving on-chain metrics and growing network activity [1].

On-chain data also revealed increased withdrawals of over 1 million ETH from centralized exchanges in the past two weeks, a sign of shifting sentiment and reduced short-term selling pressure [1]. Meanwhile, the Ethereum network has seen a surge in daily transactions, reaching approximately 1.55 million, and the number of unique addresses now exceeds 332 million, indicating robust user adoption [1].

Despite these positive signals, it is important to note that Ethereum’s price has not yet fully confirmed a breakout above key resistance. As of press time, ETH was trading below $3,590 [1], and a sustained move above the $3,676–$3,817 range is still required to confirm bullish momentum [1]. The current market dynamics suggest a potential accumulation phase, but whether this leads to a significant breakout will depend on how buyers respond at critical price levels and broader macroeconomic conditions.

Investors and traders are closely monitoring the situation, with the possibility of Ethereum reaching new all-time highs still on the table, according to technical indicators and on-chain activity [1].

Source:

[1] https://www.mitrade.com/au/insights/news/live-news/article-3-1018154-20250807

[2] https://www.tradingview.com/symbols/ETHUSD/ideas/page-2/

[3] https://www.facebook.com/groups/250968057873111/posts/795195060117072/