Last week, Ethereum (ETH) prices generally remained sideways with fluctuations. On the surface, the market seemed calm, but technical charts and on-chain data revealed clear signals of structural change. Multiple indicators show that Ethereum is building a potential medium-term reversal pattern, while the selling pressure from long-term holders has significantly decreased. This combination is relatively rare in history.
From a technical perspective, on the daily chart, Ethereum is forming a classic inverse head and shoulders pattern, which is one of the more reliable bullish reversal structures in the crypto market. The neckline of the current pattern is around $3400 and appears relatively flat. Historical experience suggests that once a flat neckline is effectively broken, it is often accompanied by a stronger trend upward. Based on this pattern, once ETH breaks above the neckline with increased volume, the theoretical target price could reach around $4400.
On-chain data further enhances the credibility of this technical signal. Net position changes of long-term holders show that since late November, the selling volume of long-term Ethereum holders has dropped significantly. Previously, over 1.1 million ETH were sold, but by late December, this number had decreased to about 54,000 ETH, a reduction of over 95%. Historically, long-term holders tend to stop selling near important trend inflection points, indicating that market supply is tightening noticeably.
Cost basis analysis reveals key areas that Ethereum needs to break through in the short term. The most critical cost-intensive zone is between $3150 and $3173, where approximately 2.94 million ETH have been bought, forming a clear supply wall. If the price can hold above this zone, it will lay the foundation for further challenge of the $3400 neckline. Based on current price levels, this upward space is about 7%.
Once Ethereum successfully breaks above $3400, subsequent resistance will be relatively limited. Resistance between $3480 and $4170 will be sparse, and the price is expected to gradually approach the $4400 target.
Of course, risks are also clear. If ETH falls below $2800, the reversal structure will be significantly weakened; if it further drops below $2620, the bullish pattern will be completely invalidated. Considering the technical pattern, on-chain selling pressure, and cost structure, Ethereum is still in a potential upward window, with the key being whether it can effectively break through the core resistance zone at $3150.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
The Ethereum Foundation uses it too! The CoW Swap frontend was hacked, and DeFi leaders advise revoking approvals
The Ethereum DeFi platform CoW Swap experienced DNS hijacking on April 14, which may put users at risk of phishing. Although the protocol itself was not compromised, the risk of frontend attacks remains high. The industry recommends that users revoke approvals before taking any future actions. CoW Swap offers batch transaction functionality and protects against MEV attacks, and its security incident may affect the entire DeFi ecosystem.
ChainNewsAbmedia55m ago
Bitmine promoted to the NYSE Main Board! Tom Lee: U.S. stocks may be at a bottom, and selling pressure on Ether could ease
Bitmine has officially moved from the NYSE American board to the main board in the U.S., marking an important milestone for the company. Despite a sharp drop in its share price, it has still increased its share repurchase program to $4 billion. The company holds a large amount of Ether (ETH), and expects that a rebound in the crypto market will help improve its assets and share price performance.
CryptoCity1h ago
ETH 15-minute drop of 0.72%: Large addresses transferring to and net outflows of funds from the main players triggered a sell-pressure resonance
2026-04-14 16:45 to 2026-04-14 17:00 (UTC), within the 15-minute window ETH’s return recorded -0.72%. The price range fluctuated from 2329.63 to 2351.42 USDT, with a swing of 0.93%. During this period, market capital outflows accelerated markedly, volatility intensified, market sentiment turned cautious, and attention rose rapidly.
The main driver of this anomaly is that on-chain large addresses (whales) centralized and transferred ETH to exchanges, releasing a large sell signal. The net outflow of funds from the main capital totaled as much as -61.80 million USD,
GateNews2h ago
ETH rose 1.06% in 15 minutes: global political stimulation and a coordinated boost to risk appetite and on-chain activity together drove the move
From 15:30 to 15:45 (UTC) on 2026-04-14, the ETH price range was 2340.75 to 2367.0 USDT. Within 15 minutes, the return rate reached +1.06%, and the amplitude was 1.12%. Market volatility intensified, and on-chain and social attention rose in tandem. Short-term trading activity increased significantly, and investor sentiment shifted to optimism.
The main driving force behind this market move is the direct impact of an international political event on risk appetite. The United States announced a blockade of the Strait of Hormuz in the Middle East region related to the White House, creating a stark contrast with peace signals reportedly coming from Iran, and it triggered uncertainty and panic sentiment in the market.
GateNews4h ago
