Ethereum News Today: Ethereum Surges 23% in 7 Days as 2017 Fractal Pattern Repeats

Ethereum has recently demonstrated a technical pattern that closely mirrors its 2017 breakout, with the price reclaiming the 50-week moving average after a prolonged consolidation phase. This development has drawn comparisons to the 2017–2021 cycle, where the reclamation of the 50-week moving average marked the beginning of a sustained upward trend. At the time of writing, Ethereum was trading at $4,197, having rebounded from May lows near $2,250 and breaking above $4,000 after a period of consolidation between $1,570 and $4,000 [1].

According to Merlijn The Trader, Ethereum’s 2025 price action aligns closely with the 2017 breakout, including the same buildup of price pressure. This time, however, the catalysts differ slightly, with institutional demand, ETF-driven inflows, and a tightening supply environment contributing to the bullish momentum. The 50-week moving average reclamation has historically acted as a technical trigger for significant moves, and this time is no exception. The price has broken above a 1.5-year resistance level, with six of the past seven weeks closing in positive territory [2].

Cas Abbe noted that Ethereum’s weekly candle has successfully cleared a key resistance level and is now showing signs of a potential continuation. He anticipates a retest of the breakout level before institutional buying resumes, which could push Ethereum toward a new all-time high by the end of August. On-chain metrics support this view, showing increased staking activity and reduced exchange balances, indicating a tightening supply dynamic [3].

Institutional participation is also playing a key role in the current rally. Lookonchain data shows that SharpLink Gaming increased its ETH holdings to $2.12 billion in August, while BlackRock added over 65,000 ETH, worth approximately $271.8 million. Whale investors have accumulated $667 million worth of ETH in early August, adding to the upward pressure. This combination of institutional buying and limited supply is reinforcing the bullish case for Ethereum [4].

Analysts suggest that if the current momentum continues, $10,000 could be a conservative target. This projection is not speculative but is based on the historical price patterns and the current market conditions. Ethereum’s recent 23% surge over the past seven days further strengthens the case for an extended bullish trend, particularly as it aligns with the successful retest of the 50-week moving average [5].

While the fractal pattern observed in the weekly chart supports a bullish outlook, analysts caution that confirmation across multiple timeframes and sustained volume are essential for a true breakout. The current technical setup, however, is generating optimism among traders and investors, as Ethereum continues to assert itself as a leading force in the crypto market [6].

Source: [1] Ethereum Fractal Mirrors Bitcoin's 2018-2021 Run, Ready ... (https://www.mitrade.com/insights/news/live-news/article-3-1026812-20250810)

[2] Ethereum News Today: Ethereum Nears $4K Resistance ... (https://www.ainvest.com/news/ethereum-news-today-ethereum-nears-4k-resistance-2017-technical-setup-repeats-2508/)

[3] Ethereum Surges 23% in 7 Days as Fractal Patterns Signal ... (https://www.ainvest.com/news/ethereum-news-today-ethereum-surges-23-7-days-fractal-patterns-signal-potential-1-110-rally-2508/)

[4] Ethereum Trade Ideas — IG:ETHUSD (https://www.tradingview.com/symbols/ETHUSD/ideas/?exchange=IG)

[6] Bitcoin Price Outlook and Its Impact on Altcoins: What Does ... (https://www.facebook.com/groups/111606076179443/posts/1654649891875046/)