TLDR:
Ethereum trades near $3,608 as bulls defend support while sellers unload $418M in ETH.
$4,100 remains the critical breakout level that could send ETH toward $5,000 and beyond.
$3,200–$3,300 is the zone analysts see as a likely area for bullish accumulation.
MACD stays bullish while RSI at 63 suggests strong momentum without overbought signals.
Ethereum is holding steady in a strong uptrend, but the market is showing signs of pressure. Bulls keep pushing toward the $4,100 resistance.
At the same time, sellers have unloaded over $418 million worth of ETH in a single day. This standoff has traders watching for either a sharp breakout or a healthy pullback. Momentum is high, but the next move could set the tone for the rest of Q3.
Ethereum trades at $3,608 after a 3.19% weekly gain. According to trader Nilesh Rohilla, ETH is consolidating just under $4,100 after repeated breakout attempts. He noted that the price continues to print higher highs and higher lows, a classic bullish structure.
🚨 Ethereum Weekly Chart Analysis – Bullish Continuation or Pullback?
ETH continues to trade in a strong uptrend on the weekly timeframe, with healthy consolidation just below major resistance.
📊 Current Price Action
– Current Price: $3,608 (+3.19% this week)– Weekly Range:… https://t.co/3aqcnpfO8C pic.twitter.com/x1yFiacx8o
— Nilesh Rohilla (@nilesh_rohilla) August 6, 2025
Support sits near $3,500 and $3,300. Rohilla added that a dip toward $3,200 would likely attract aggressive buyers. However, if ETH closes above $4,100, the path toward $5,000 and beyond opens up quickly.
$418M Ethereum Sell-Off Sparks Caution
CryptoQuant analyst Maartunn highlighted a sharp shift in market activity. Net Taker Volume for ETH dropped to negative $418.8 million. This means sellers using market orders offloaded 115,400 more ETH than buyers absorbed.
Maartunn explained that such aggressive selling signals caution. It shows traders prioritizing speed over price, which often points to short-term bearish pressure. Despite this, Ethereum’s broader weekly trend remains intact as long as it stays above $3,100.
ETH Dump Alert: -$418.8M Net Taker Volume
“Net Taker Volume for ETH sits at -$418.8M (Daily). This means that taker sellers offloaded 115.4K more $ETH than buyers were willing to absorb.” – By @JA_Maartun pic.twitter.com/RD6G2mTMGq
— CryptoQuant.com (@cryptoquant_com) August 6, 2025
Rohilla’s chart analysis shows the MACD remains bullish, with its histogram rising and no signs of a bearish crossover. The RSI sits at 63.99, indicating strong momentum without being overbought.
This mix of healthy consolidation and steady indicators suggests the rally is not exhausted. A brief pullback into the $3,300 to $3,200 range could reset the market before the next leg higher.
What ETH Traders Are Watching Next
If Ethereum holds above $3,100, analysts expect bulls to stay in control. A weekly close above $4,100 could be the trigger for a rally toward $6,000 to $7,000 by late 2025.
For now, traders are watching two zones: $3,200 as a potential buying area and $4,100 as the breakout point. Until one of these levels gives way, Ethereum’s battle between buyers and sellers remains in full swing.
