Ethereum Price Support Defined: Is $5,000 Rebound Possible?

Ethereum price went through multiple support over the past week. It was positioned near the $4700 level at the time of writing.

That is a significant upside considering $4,260 support level on 22 Aug, with large investors adding millions in ETH.

According to analysts a rebound toward $5,000 could depend on holding key levels.

Ethereum Support Zone Draws Attention

In light of recent developments, banking giant Standard Chartered modified its forecast for Ethereum price in 2025 to as high as $7500.

The next key support levels to watch out are $4600, $4420, $4260. If the level failed, analyst warned that $3,700 could become the next key zone for traders to watch.

It is important to note that at the current level, ETH price is 50% higher than it was 4 weeks ago.

ETH accumulation has risen significantly and has even exceeded that of Bitcoin.

Other signs pointed to steady demand at these levels. Ted Pillows, another market observer, reported that a newly created wallet bought $51,320,000 worth of ETH.

He added that whales kept buying Ethereum during the dip. Data showed that large buyers were active even as prices pulled back from recent highs.

It is important to add that Lookonchain also reported major moves by long-term Bitcoin holders.

One Bitcoin investor who received 100,784 BTC seven years ago sold a portion of his holdings and bought 62,914 ETH worth $267 million.

He also opened a long position of 135,265 ETH valued at $577 million. Another Bitcoin investor showed a similar pattern.

He deposited BTC into Hyperliquid to sell and then bought ETH. Records showed that he had received 85,947 BTC worth $547 million seven years ago.

Analysts linked him to the same whale previously reported with six wallets still holding 83,585 BTC valued at $9.42 billion.

Ethereum wallet addresses 0x079433Ee99C5dF344Fa9836c8cc6F64E6c4859b6 and 0x4116812b89749563d40B0ffC187Db7ce668711Cb were among those flagged in the recent activity.

The wallets gave further evidence that accumulation had increased during the dip.

BTC Whales Turn Toward Ethereum

The pivot of whales from Bitcoin into Ethereum carried weight in the market. These moves showed how large holders were adjusting strategies.

Whale activity often drew attention because of its scale, which could affect both liquidity and sentiment.

While it did not guarantee outcomes, the shift added to growing speculation.

Market analysts also described Ethereum’s chart pattern as a bull flag. The price pullback was seen as moving in an orderly channel.

In past cycles, similar formations often pointed to a possible continuation if resistance broke. As the largest altcoin, if Ethereum managed to hold its current levels, analysts said a move to $4,800 might follow in the short term.

If the momentum continues to build, levels above $5,500 could also come into play. Market experts believe this would put Ethereum close to new higher highs.

At the same time, a break below $4,200 might weaken sentiment and trigger further declines. As of writing, ETH price was trading at $4,741.07.

Ethereum Price Narrative Gains Ground

It is worth noting that beyond price action, Ethereum’s wider narrative has continued to spread.

In a separate development, the Wall Street Journal ran a headline stating that Peter Thiel was leading a group of investors piling into Ethereum.

The report said proponents saw Ethereum becoming the platform of choice for the financial world.

Nate Geraci, who shared the article, said the narrative around Ethereum was moving into the mainstream.

His remarks pointed to how traditional finance was paying closer attention to Ethereum’s role.

Analysts also noted that Ethereum price was holding higher lows despite waves of selling. This was read as a sign of strength during the correction.

Together with whale accumulation, the developments kept attention on whether Ethereum could rebound to $5,000.