Ethereum has decisively broken through the $3,760 resistance level, signaling robust bullish momentum with price targets now set between $3,950 and $4,100. Technical analysts confirm $3,780 has established itself as crucial immediate support following the breakthrough.
Institutional confidence in Ethereum’s trajectory was highlighted by a major $114 million ETH acquisition executed by DeFiance Capital, reinforcing market optimism. The purchase aligns with technical indicators pointing to accumulating buyer dominance.
The breakout from a multi-week symmetrical triangle pattern confirms a shift in market control to bulls, with former resistance at $3,760 now transformed into support. Historical performance patterns provide additional tailwinds, as Ethereum has historically surged an average of 64.2% during August in post-halving years suggesting potential for extended gains toward $6,000.
Current market sentiment remains strongly positive, underpinned by converging factors including technical patterns, institutional accumulation, and favorable seasonal trends sustaining the upward price trajectory.