Can Ethereum Regain Its Lost Support and Push Toward $4,000?

3 mins mins

Key Insights:

ETH trades below the major trendline as whales accumulate and retail wallets continue to exit.
Reclaiming $3,160 could trigger a run toward the next liquidity zone near $3,380.
Holding above $2,850 keeps bullish setups active as buyers target the $4,000 level next.

*Can Ethereum Regain Its Lost Support and Push Toward $4,000?*

Ethereum was trading just under a key trendline it lost in November. This trendline, in place for several years, was briefly broken earlier in 2025. Since then, price has pulled back and is now testing the level from below.

The monthly candle shows ETH trying to recover the trendline. Price sits around $3,376, following a sharp move up over the last week. The previous high near $4,800 remains far, but reclaiming this trendline is seen as a step toward that level.

As Rekt Capital noted,

“Ethereum needs to try to reclaim the multi-year downtrend it had lost… to get closer to $4000.”

Weekly Open and Liquidity Zones in Focus

On the 4-hour chart, Ethereum is moving between $3,130 and $3,160, just under the weekly open. The price recently bounced from the $2,850–$2,870 zone, which is marked as a key area of earlier sell-side pressure. Since that bounce, ETH has printed higher lows and held short-term support.

ShafynKhan shared that he is watching for a move above the $3,120–$3,160 zone, backed by stronger bids and buyer interest. He also mentioned the $3,300–$3,380 range as the next likely area where price could move. This area contains resting buy orders and has acted as a liquidity draw in the past.

he wrote,

“Holding above this [green zone] keeps long setups valid,”

Larger Wallets Are Buying as Retail Sells

On-chain data shows a steady rise in ETH holdings among larger wallets. Over the past three weeks, wallets holding between 100 and 100,000 ETH added more than 934,000 ETH, worth over $3.1 billion. This group includes key market players often described as whales and sharks.

At the same time, smaller wallets — those holding less than 0.1 ETH — sold over 1,000 ETH in the past week. This pattern of retail selling into strength, while larger holders accumulate, has been seen in earlier market cycles.

🐳 Ethereum is a standout gainer today, climbing +8.5% and seeing an encouraging accumulation pattern from whales & sharks. They've accumulated ~934,240 $ETH ($3.15B) in 3 weeks, while small retail has dumped ~1,041 in the past week.

🔗 Wallet tier chart: https://t.co/3g6G77qDGe pic.twitter.com/qbBUEiDuyF
— Santiment (@santimentfeed) December 9, 2025

ETH Needs to Close Above Trendline

ETH was in a retest phase. It has recovered from recent lows but still needs to close above the long-term descending trendline. A clean monthly close above that level would open the path to retesting the $4,000 area.

Short-term, if Ethereum holds above $3,080 and pushes past $3,160 with strong activity, a move toward the $3,300–$3,380 zone could follow. The key level for keeping bullish setups active remains at $2,850.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.