• Ethereum trades below $4,000, facing strong resistance and market indecision.
• The $3,000–$2,600 zone is seen as a key accumulation level for long-term holders.
• Market sentiment stays bullish long-term, supported by growing developer activity.

Ethereum is once again the center of market attention as traders debate whether the asset is preparing for a deep pullback or a potential breakout to new highs. Currently trading below $4,000, the token faces short-term pressure, yet its long-term structure continues to attract investor optimism.

Currently, It stays capped below the $4,000 resistance level, which lately acted as a decisive traders’ pivot point. Crypto expert Crypto Patel pointed out that if coin stays below the said zone, the price may pull back towards the $3,000–$2,600 area.

The region itself is considered a key support and an accumulation area for potential buying entry. In spite of near-term softness, the broader market cycle still points towards a continuation of the bull case, believes Patel.

A confirmed break above $4,000 can open the doors to $8,000 and even $10,000 in the coming months, which can indicate fresh investor optimism.

Also Read: Ethereum Eyes Breakout Toward $10,000 as Bullish Momentum Builds Strong

Ethereum Mirrors Russell 2000 Patterns

Another chart posted by EᴛʜᴇʀNᴀꜱʏᴏɴᴀL points out a historical correlation in which the token follows the U.S. Russell 2000 index. Both assets reached tops in November 2021 after settling into long correction periods and made key lows in the area of April 2025.

The Russell 2000 has since retested its resistance zone from 2021 and picked up the uptrend, a pattern that the token seems now to be repeating.

This correlation implies that Ethereum may be next in the same pattern, utilizing its latest consolidation process as a catalyst for a spirited comeback. 

The pattern highlights how broader market cycles tend to correlate between traditional securities and cryptocurrencies, which may only be a hiss and a whisper from Ethereum’s next upleg.

Bullish Confidence from Market and Developers

Michaël van de Poppe goes on to say that Ethereum could initiate a fresh leg up in anywhere from one to two weeks’ time, having retested its earlier zone of resistance. He believes the $10,000 target is achievable in the existing bull cycle.

Contributing to the positivity, the Ethereum Foundation also validated that the token is still the top-performing blockchain among new developers in 2025.

Based on the records gathered by Electric Capital, Ethereum also supports the highest active community of developers and thus remains the top smart contract platform in terms of dominance.

Ongoing developer activity growth indicates healthy network fundamentals and lays the groundwork for continued innovation and potential long-term market strength. 

Also Read: Ethereum Bulls Forecast $10,000 by Year-End as Corporate Interest Soars