Ethereum Regains $4,000 – Analysts Predict an Explosive Breakout

After weeks of uncertainty, Ethereum (ETH) is showing renewed strength. During Monday’s early Asian trading session, it surged 3.6% to $4,060, reclaiming the psychologically important $4,000 level. Analysts agree: ETH appears to be on the verge of a powerful bullish breakout, reminiscent of the legendary rally in 2017.

Ethereum Rebounds and Holds Key Support Since dipping to $3,700 on October 17, ETH has gained nearly 10%. According to TradingView data, it’s now holding firmly above the $3,985 support zone, which aligns with December highs and weekly closes — a strong technical confirmation that the market remains resilient. Analyst Rekt Capital noted that Ethereum has re-entered its multi-year trend channel, previously broken during the summer, and has now successfully retested it. “ETH has stabilized within a range it has maintained for months, and that’s a bullish sign,” he explained.

“There’s Nothing Bearish on the ETH Chart” – Traders Say Market analyst Sykodelic described Ethereum’s chart as “exceptionally clean,” emphasizing that all major indicators now point toward upward momentum. “Market makers played a masterful psychological game — they convinced everyone ETH was dead right as it was forming a bottom,” he said. Similarly, Merlijn the Trader called Ethereum “the most explosive market since 2017,” highlighting a textbook bullish trend on the monthly chart that could signal the start of a major expansion toward $5,000 and beyond.

John Bollinger Confirms a “W-Shaped Bottom” Adding to the bullish sentiment, legendary analyst John Bollinger, creator of the famous Bollinger Bands, made a rare prediction for ETH over the weekend — identifying a W-shaped bottom, a classic reversal pattern. Trader Satoshi Flipper noted: “Bollinger makes maybe one crypto call per year, and each time it’s marked a generational bottom. Now he says ETH has found its floor — that’s huge.”

Falling Open Interest Could Be Bullish Investor Ted Pillows pointed out on Sunday that Ethereum’s open interest (OI) — the total value of active futures and options contracts — is now 45% below its peak, while ETH’s price is only 20% off its all-time high. “That’s actually very bullish,” Pillows said. “Speculative activity has cooled, leaving room for organic growth.” According to Coinglass, open interest peaked at $21 billion in late August. Since then, the market has cooled significantly, potentially setting the stage for a more sustainable rally.

Outlook: Could Ethereum Hit $6,000 Next? If current momentum continues, analysts predict ETH could climb to $5,500–$6,000 without overheating. The combination of strong technical patterns, reduced speculative pressure, and renewed institutional interest suggests Ethereum may be entering one of its most promising phases in years. As Sykodelic concluded: “There’s nothing on Ethereum’s chart that signals the end — everything points to a new beginning.”

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