Ethereum's Price Movements: Will It Surge to $4.5K or $7.6K?
Ethereum is currently trading around $2,864 as traders analyze patterns suggesting significant price movements ahead.
Ethereum (ETH) is hovering around $2,850, showing a slight decline over the past day, with a weekly performance dipping by 2%.
While trading within a range, certain chart formations and market indicators have caught traders’ attention.
Rising Wedge on 12-Hour Chart
Analyst Don has observed a falling wedge structure on Ethereum’s 12-hour chart. This formation, created by two descending, converging trendlines, often appears towards the end of a downward trend. The asset is compressing further within this pattern with decreasing highs and lows.
"$ETH failed to break out, but the price is consolidating inside the falling wedge pattern, which signals a potential bullish reversal. — Don 🐂 (@DonaldsTrades) December 2, 2025
Thus far, ETH hasn’t escaped the wedge, but it is approximately at the apex. Don suggests that a confirmed breakout above the upper trendline could escalate momentum upwards. Should the asset break out, targets of $4,500 are highlighted as critical on his chart.
In addition, on the weekly chart, Bitcoinsensus indicated the emergence of an inverse head-and-shoulders pattern, resembling:
- A left shoulder around mid-2024,
- A head near $1,500 in early 2025,
- A right shoulder currently evolving.
The neckline is situated around $4,800. This pattern is frequently associated with potential long-term trend alterations. Completing the breakout above the neckline could invigorate a much larger rally, with a projected target around $7,600.
Key Price Levels and Market Behavior
Trader Lennaert Snyder noted that ETH faces resistance near $2,850. Reclaiming this point could pave the way towards $3,000. Snyder stated:
“If we reject around $2,840 resistance here, I’ll short the decline.”
Furthermore, Titan of Crypto reported that Ethereum is currently testing the SSB level on the Ichimoku Cloud. Maintaining this level could trigger a rebound towards $3,500. If the support falters, lower levels may become relevant.
Whales Retain Position Near Average Price
CW highlighted that Ethereum trades close to the average buying price of accumulation addresses, which reflects the entry price of larger wallets.
“The current price aligns with the average purchased price of whales,” CW commented.
Whale activity remains stable while broader market interest has begun to recover. Following Ethereum’s drop near $2,800, open interest in ETH futures surged, signaling renewed market positioning. Accumulation at these price levels has persisted since mid-year, boosted by easing financial circumstances and consistent inflows.
