Ethereum (ETH) Price Shows Signs of Exiting Manipulation Phase, Targeting $4,000

Ethereum (ETH) price has recently gained attention from analysts as it shows signs of completing a key phase in its cycle. According to analysts, Ethereum price may be exiting the “manipulation phase” — the final phase before an upward expansion

The recent price action of Ethereum (CRYPTO: ETH) has come into the focus of analysts as it shows signs of completing a key phase in its cycle.

According to technical analysis, Ethereum price may be exiting the ‘manipulation phase’—the final phase before an upward expansion—based on classic Wyckoff accumulation patterns. This perspective aligns with recent movements, where Ethereum has retested the $2,100 level, nearing the crucial $2,200 resistance zone.

The cryptocurrency market analyst known as Ted Pillows on X (formerly Twitter) has highlighted a three-phase model in Ethereum’s recent price behavior: accumulation, manipulation, and expansion.

The world’s second-largest cryptocurrency, Ethereum, has spent nearly a year in the accumulation phase. During this time, the price remained in a relatively narrow range, indicating minimal activity from retail traders and potentially significant accumulation by institutional entities.

The current phase, described by Pillows as manipulation, has been characterized by volatility and sudden dips, such as the recent drop below $1,900. These moves are designed to push out weaker market positions before a possible price expansion.

According to his analysis, this phase may now be nearing its end. Ethereum price is currently consolidating just under the $2,200 level, which could be setting the stage for an altcoin rally.

A confirmed breakout above the $2,200 resistance would indicate the start of the expansion phase, a scenario that aligns with the Wyckoff-style patterns observed by multiple analysts. This phase is typically followed by a rapid increase in price.

The projected target during the expansion phase could push altcoin price beyond the $4,000 mark, especially if trading volume supports the breakout. However, if the price fails to break out of the $2,200 zone despite high volume, it could signal a return to the lower support levels.

As the cryptocurrency market continues to heat up, recent data shows that Ethereum price has retested the $2,100 level following a low of $1,930. This marks the first move above $2,100 in two weeks.

However, despite the price action, technical indicators remain divided on the short-term trend. A flag pattern has formed on the hourly chart, which is often viewed as a bullish continuation signal in technical analysis.

On the other hand, the 14-day EMA has converged bearishly near the overbought RSI range. This suggests that traders may want to exercise caution, as short-term volatility is likely to continue.

If the resistance at $2,100 holds, top altcoin price may decline to test $2,000 again before any breakout.

More so, analyst Michaël van de Poppe supports the bullish outlook, noting that Ethereum is approaching a key resistance zone between $2,100 and $2,150. According to him, a breakout above this range could trigger a rapid move toward $2,800, especially with the U.S. dollar index (DXY) showing a notable decline.

Adding to the bullish sentiments, a recent CoinGape report highlights that Ethereum reclaiming the $2,000 level and strong on-chain accumulation are both major signs of an incoming multi-week rally.

With whales acquiring 470,000 ETH in the past week and over 6 million ETH bought between $1,886 and $1,944, analysts suggest ETH could test the $3,000 mark.

At press time, altcoin price is $2,083, reflecting a 4% increase over the past 24 hours. Trading volume has surged by over 102%, reaching $14.77 billion, signaling renewed market interest and heightened activity.