Ethereum (ETH) is struggling to regain higher levels as the broader cryptocurrency market consolidates after its recent crash. Despite the short-term weakness, several analysts suggest that ETH may be entering a bullish accumulation phase, with price action stabilizing around the key $4,000 level – a zone that has served as both mighty resistance and support in the past. The asset’s resilience in the face of market uncertainty reflects growing confidence in Ethereum’s long-term fundamentals and network business.

Moreover, on-chain data from Lookonchain revealed that an Ethereum ICO participant re-emerged after nearly eight years of dormancy, contributing 1,500 ETH worth approximately $6 million to Kraken for the first time. This wallet originally received 20,000 ETH during the 2015 Ethereum sell-off, purchased for approximately $6,200, which would be valued at over $80 million today.

Such infrequent moves by early holders often attract market attention because they can signal recommitment or a strategic repositioning. While Ethereum’s price remains in consolidation, the network’s long-term value narrative – driven by Layer 2 scaling, staking growth and DeFi activity – continues to strengthen. If the current range continues, ETH could be positioned for a rebound as market confidence rebuilds.

The dormant Ethereum whale wakes up after 8 years

According to a recent one report by Lookonchain, an early Ethereum entrant – identified as wallet 0x3690 – has re-emerged after nearly eight years of inactivity, sparking renewed discussions in the crypto community. This address was one of the original Ethereum ICO wallets, which received an inflow of 20,000 ETH when it was founded in 2015, bringing the total investment to just $6,200. At current prices, this cache would be worth approximately $80.42 million, a remarkable return of 12,971 times.

On October 27, 2025, the wallet sent 1,500 ETH (approximately $6 million) to Kraken, marking the first-ever on-chain move since Ethereum launched. Such activity from early holders often raises questions about investor sentiment and potential market developments – especially as the broader cryptocurrency market remains in a fragile phase of consolidation.

While the transfer does not necessarily represent an immediate sell-off, it highlights how long-term participants are starting to reposition themselves as Ethereum hovers near the $4,000 level. Analysts suggest that the coming weeks will be decisive for the market as both Bitcoin and Ethereum approach critical technical and psychological thresholds ahead of the next policy decisions of the US Federal Reserve.

If Ethereum manages to maintain its current network reach and commitment, it could confirm the beginning of a fresh phase of growth accumulation. Conversely, a break below support could extend the correction before a stronger rebound occurs later in the quarter. In either case, this event is a reminder of Ethereum’s resilience and how early conviction in the network’s vision has yielded historic gains for those who have endured multiple cycles. The market is now watching closely to see whether this renewed activity in the price chain signals a turning point or a moment of reflection before the next major move.

Ethereum is struggling to break $4,200 as consolidation tightens around key support

Ethereum (ETH) is trading near $3,993 as it tries to recover after weeks of sideways action. The chart shows that ETH is struggling to break the resistance at $4,200, a level that has repeatedly rejected price increases since early October. The 50-day moving average (blue) currently lines up with this resistance, reinforcing it as a critical barrier that bulls need to overcome to confirm a short-term reversal.

Below, the 100-day (green) and 200-day (red) moving averages provide solid structural support around $3,800 and $3,300, respectively. The convergence of these levels suggests that Ethereum remains in a broad consolidation range, with constrained momentum on either side as the market digests the recent volatility.

A decisive close above $4,200 could open the way towards $4,500-4,700, where liquidity from previous highs will be maintained. Conversely, a breakdown below $3,800 would expose ETH to a deeper pullback towards the $3,500 zone, where buyers had already entered during the September correction.

Market sentiment seems cautious, but not bearish. Ethereum’s ability to maintain a psychological level near $4,000 despite the broader market slowdown indicates resilience. As macro uncertainty persists, ETH’s next move will likely depend on whether buying pressure strengthens ahead of the Federal Reserve’s policy update this week.

Featured image from ChatGPT, chart from TradingView.com