Ethereum News Today: Ethereum Trapped Near $3,600 As Galaxy CEO Targets 25% Rally By Year-End

Ethereum faces repeated resistance near $3,600, a level that has stalled its upward movement multiple times since May 2025. Some analysts have interpreted this pattern as a potential “quadruple top,” a formation often associated with downward pressure. However, Galaxy Digital CEO Mike Novogratz remains bullish, arguing that the price consolidation near resistance could precede a breakout. He projects Ethereum could surpass $4,000 by late 2025, a 25% increase from current levels, provided the asset holds above $3,200 support [1].

The market is closely watching for confirmation signals. A break above $3,600 would validate Novogratz’s view, suggesting a resumption of the uptrend. Conversely, a failure to hold support at $3,200 could trigger increased selling pressure. Technical indicators show tightening price compression near the resistance zone, a common precursor to a directional breakout [2].

Despite the bearish concerns, Ethereum continues to attract significant institutional interest. BlackRock’s Ethereum ETF has recorded over $4 billion in net inflows, reflecting strong institutional demand. Meanwhile, corporate entities are also accumulating ETH for treasuries, with BitMine Immersion Technologies holding approximately 833,000 ETH—valued at over $2.9 billion—through its $1 billion buyback program [3]. On-chain activity has also surged, with Ethereum’s daily transaction volume hitting a yearly high and active wallet counts rising sharply—adding 256,000 new wallets in a single day [4].

Ethereum’s price is currently around $3,692, up approximately 5.6% for the day, rebounding from a recent dip. The RSI remains balanced, suggesting potential for upside, although a failure to hold $3,680 could trigger a pullback toward $3,500. The chart structure appears to resemble a cup-and-handle breakout pattern, supporting a bullish continuation [5].

Market participants are divided on short-term prospects. Analyst Michaël van de Poppe has highlighted bearish divergence, suggesting a potential pullback to $3,000–$3,100 may be a key accumulation phase. However, the broader market context—driven by growing ETF demand and favorable macroeconomic conditions—could counteract these bearish signals [6].

Novogratz’s projection reflects a broader institutional confidence in Ethereum’s trajectory, particularly as the network undergoes infrastructure upgrades. These include targeting 400 transactions per second and the introduction of mobile node capabilities, which could enhance scalability and accessibility [7].

The coming weeks will be critical in determining whether Ethereum’s consolidation will resolve upward or downward. As the market continues to evolve, the combination of on-chain adoption, institutional inflows, and fundamental upgrades may provide the catalyst for a sustained breakout above key resistance levels.