Bullish Pennant on ETH: Is a $5K Breakout Next?

TL;DR Ethereum forms a bullish pennant as it compresses between $4,400 support and $4,800 ￰0￱ wallets holding over 10,000 ETH rise sharply, signaling renewed confidence in long-term ￰1￱ exchange reserves hit multi-year lows, suggesting reduced sell pressure and rising ￰2￱ Price Holds Firm Within Tight Pattern ETH is currently trading around $4,500. The price movement in recent days shows a pause after a steady climb, with the chart forming what analysts describe as a bullish ￰3￱ structure includes rising support and falling resistance, creating a narrowing zone that often leads to sharp moves once the price breaks out. #Ethereum – Bullish Pennant $Eth is very close to a breakout, just in time for ￰4￱ will see the #Altseason start to kick-off once this ￰5￱ — Anonymous | Crypto Predictions (@Crypto_Twittier) September 18, 2025 Buyers have continued to hold key support levels, with each dip finding demand around the $4,400 to $4,500 ￰6￱ upper range, around $4,700 to $4,800, remains an ￰7￱ are watching for a close above this level as a possible signal that momentum may return.

Short-term trend indicators remain in positive ￰8￱ averages, often used to track trend strength, are still pointing ￰9￱ long as Ethereum holds above the rising trendline, the current setup stays ￰10￱ analyst, Mister Crypto, pointed out a potential breakout above $4,800. The target shared was $5,800, based on the current ￰11￱ wrote, “ $ETH is ready to explode here ,” suggesting confidence in the strength of the pattern if resistance breaks. However, the asset has yet to close above that level, and volume has remained ￰12￱ Holders Increase Positions Data from on-chain platforms shows a sharp increase in the number of Ethereum addresses holding over 10,000 ￰13￱ to figures posted by Diana Sanchez, this group has grown in recent ￰14￱ whales are buying loads of $ETH ! ￰15￱ — Diana Sanchez (@DianaSanchez_04) September 18, 2025 Meanwhile, this trend follows a long period of selling or inactivity by larger ￰16￱ shift may suggest these holders are positioning ahead of a possible move higher, especially with the asset trading above $4,500 for most of ￰17￱ accounts tend to move large amounts of capital and often act during the early stages of price ￰18￱ CryptoPotato reported , wallets holding between 10,000 and 100,000 ETH have now reached unrealized profit levels comparable to those last seen at the peak of the 2021 bull ￰19￱ group is now sitting on paper gains similar to those recorded when ETH was nearing all-time ￰20￱ on Exchanges Falls to Multi-Year Lows Data from CryptoQuant shows that Ethereum held on exchanges has dropped to 16.9 million ETH, marking the lowest level seen in several ￰21￱ less ETH is held on trading platforms, it often means more coins are being moved to private wallets or long-term ￰22￱ a recent post, Merlijn Trader said , “Ethereum supply shock is real.” He noted that institutions and larger buyers continue to remove ETH from public markets.

“Every dip is bought,” he added, pointing to the drop in available supply. A reduced float on exchanges can limit sell pressure, especially if demand rises.