Ethereum Wyckoff accumulation hints at explosive Q3 — $4K level in sight

Ethereum is holding steady above the $2,500 mark after a period of choppy price action and market uncertainty. While volatility remains a theme across crypto markets, ETH bulls have managed to defend critical support levels, setting the stage for a potential breakout in the coming weeks.

According to crypto analyst Ted Pillows, Ethereum is currently forming a Wyckoff accumulation pattern — a technical structure often seen ahead of significant market rallies. Pillows suggests this setup mirrors early stages of previous cycles where strong “smart money” positioning preceded explosive moves.

Ethereum builds strength amid tight range

ETH has rebounded 82% from its April lows, firmly trading within a well-defined range between $2,400 and $2,700 since early May. As of writing, Ethereum sits at around $2,520, maintaining support above the critical $2,480–$2,500 zone.

The 12-hour chart shows ETH repeatedly testing this demand area over the past month, highlighting strong buyer interest. ETH currently trades near its 50- and 100-period SMAs, suggesting an equilibrium point where a breakout could occur soon.

Pillows notes that this Wyckoff pattern indicates ETH is being transferred from weaker to stronger hands, positioning it for a potential $3,000 breakout, followed by a healthy correction and then a climb toward $4,000 in Q3.

Key levels to watch

• Upside targets: If ETH breaks and holds above the $2,600–$2,700 resistance, it could ignite a move toward $3,000, and eventually $4,000 later this year.

• Support zones: A drop below $2,480 could put the $2,300 level back in play.

• The 200-period SMA, currently below $2,200 and trending higher, supports ETH’s long-term bullish structure.

For now, ETH remains confined within its range as market sentiment slowly recovers and Bitcoin consolidates near its highs. The next move above or below this range could define Ethereum’s trajectory for the rest of the year — and possibly usher in an altseason if bulls deliver.