The Bitcoin market has been showing signs of increasing selling pressure, with its recent price action hinting at an even deeper distribution phase unfolding beneath the surface. 

Wyckoff Pattern Reveals Imminent Breakdown

In an August 2 post on the social media platform X, crypto analyst Joao Wedson explained how the Bitcoin price may be at risk of a downturn over the coming months. The analyst based his conclusion on the Wyckoff Distribution model, a technical analysis framework that describes how smart money sells off assets at the top of a market cycle.

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Wedson highlighted in the post that a 13-phase schematic is unfolding in real-time, which signals that the institutional investors (known as “smart money”) are preparing to exit the market, even as the retail traders remain hopeful.

The analyst started his breakdown with the Preliminary Supply (PSY) phase, where there are subtle signs of institutional sales, and a Buying Climax, where price hits a peak due to exhausted demand. This phase is then followed by an Automatic Reaction (AR), a sharp drop in Bitcoin’s price, defining the bottom of the distribution range.

The fourth and fifth phases are Secondary Tests (ST), where price retests the highs of the distribution range, but with weaker momentum and volume. As the pattern matures, the price enters Phase B with sideways movement, confusing retail participants as the institutions quietly offload their coins.

The most irrefutable signs appear in phases C and D, where there is first a Sign of Weakness (SOW), often characterized by a strong breakdown with volume; this is a major signal of demand fading. Then, there is a Last Point of Supply (LPSY), a weak rally towards the upside, which typically creates good setups for shorts. 

Finally, still within phases C and D, a break of ICE leads to a deeper fall, after which a second LPSY trap follows to seal the distribution. 

Is The Altcoin Rally Underway?

Going further, Wedson pointed out that the market makers are rotating into altcoins. According to the analyst, altcoins are already exiting their accumulation zones and are being positioned for structural markups, reflecting increasing interest in the altcoin market.

In contrast, Bitcoin has entered a weekly distribution phase, which may reflect as a weak or modest performance in the near term. Wedson added that, by the end of 2025, there will be a full rotation from BTC to altcoins, and then finally to fiat.

As of this writing, Bitcoin is valued at about $113,439, reflecting no significant movement in the past 24 hours.

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Featured image from iStock, chart from TradingView

Ethereum is trading just above the $2,500 mark following days of volatility, choppy price action, and uncertainty across crypto markets. Despite the hesitation, bulls have held critical support, and the coming days are shaping up to be a defining moment for Ethereum and the broader altcoin space. Momentum is slowly shifting as investors look for confirmation that ETH will lead the next wave of upside action.

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Top analyst Ted Pillows has shared a bullish technical outlook, suggesting that a Wyckoff accumulation pattern is currently unfolding. According to Pillows, this structure resembles the early stages of major breakouts seen in past cycles and signals strong smart money positioning. He argues that Ethereum already played a key role in Bitcoin’s latest rally to new all-time highs, and now it’s Ethereum’s turn to shine.

A sustained breakout above the $2,600–$2,700 range could trigger the next phase of the cycle, with $3,000 in sight as the initial target. With market sentiment recovering and BTC consolidating near highs, traders and investors are closely watching Ethereum’s next move to gauge whether an altseason is around the corner. The setup is in place — but ETH must deliver.

Ethereum Builds Strength

Ethereum is up 82% from its April lows, demonstrating strong bullish control as the price holds firmly above key demand zones. Despite recent volatility, ETH continues to trade within a well-defined range between $2,400 and $2,700, a structure that has persisted since early May. This tight consolidation suggests the market is preparing for a decisive breakout, one that could define Ethereum’s trajectory for the remainder of the year.

Ted Pillows reveals that Ethereum is now undergoing a classic Wyckoff accumulation pattern. According to his analysis, this phase marks the transfer of ETH from weak hands to strong hands, and it mirrors past cycle setups that led to explosive rallies. Pillows argues that Ethereum helped push Bitcoin to new all-time highs, and now it’s Ethereum’s turn to take the spotlight.

If this pattern plays out, Pillows sees a clear path: first a breakout to $3,000, followed by a healthy correction, and then a push to $4,000 sometime in Q3. Beyond that, the real parabolic move may begin, driven by renewed confidence, broader altcoin participation, and sustained demand for ETH as a core asset in the crypto ecosystem.

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ETH Holds Above Key Support Amid Tight Range

Ethereum (ETH) is trading at $2,520, maintaining its position above critical support levels despite recent volatility. As shown in the 12-hour chart, ETH has acknowledged the $2,480–$2,500 zone multiple times since late May, signaling strong buyer interest at these levels. The price remains trapped within a tight consolidation range between $2,400 and $2,700, with no clear breakout yet in either direction.

ETH is currently trading near its 50- and 100-period SMAs, which are converging around the current price, indicating equilibrium and a potential inflection point. The 200-period SMA sits below $2,200 and continues to trend upward, supporting the longer-term bullish structure.

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Volume has remained relatively stable, with no spike suggesting institutional accumulation or mass distribution. For bulls to regain full momentum, ETH must reclaim the $2,600–$2,700 resistance and flip it into support. On the downside, a clean break below $2,480 could expose the $2,300 zone once again.

Featured image from Dall-E, chart from TradingView

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Ethereum is now trading above the $2,500 mark, reaching a fresh daily high of $2,609 as bullish momentum continues to build. After months of uncertainty and sideways action, sentiment has flipped strongly in favor of the bulls. The market-wide optimism is growing, fueled by Bitcoin’s breakout above $100K and renewed attention on altcoins, setting the stage for a potential altseason.

Ethereum’s sharp recovery from its lows has caught the attention of top analysts. Among them, Ted Pillows shared a technical breakdown highlighting that the ETH reversal has officially started. According to Pillows, the steep correction below $1,400 earlier this year marked the final phase of capitulation. He points to a textbook Wyckoff accumulation structure during that period, suggesting the groundwork was laid for a sustained bullish breakout.

This recent rally has not only broken through key resistance levels but has also confirmed a higher-high on the daily timeframe, which could serve as the catalyst for Ethereum’s next leg up. As the broader crypto market wakes up and capital rotation intensifies, ETH appears to be leading the charge, signaling that the long-awaited resurgence in altcoins may finally be underway.

Ethereum Reversal Signals The Start Of A New Cycle

Ethereum is finally showing real strength after months of bearish pressure. Since peaking in late December, ETH lost more than 66% of its value, dragging much of the altcoin market down with it. However, recent price action has flipped sentiment. Since early April, ETH has surged over 85%, pushing past several key resistance levels and reclaiming the $2,500 zone with momentum. This shift has sparked optimism among analysts and investors, with growing expectations of an altseason taking shape.

For many, Ethereum’s breakout represents more than just a short-term relief rally. It’s being seen as the confirmation of a trend reversal. According to Pillows, the steep drop below $1,400 marked the final capitulation phase in Ethereum’s correction cycle.

He notes that this phase aligned perfectly with Wyckoff accumulation principles — a classic structure that often precedes major uptrends. With the pattern now complete and ETH rallying sharply, Pillows argues that the reversal is underway.

His outlook is clear: ETH could reach $4,000 by Q3 if current momentum holds. He sees Ethereum’s resurgence not just as a recovery, but as the foundation for a broader altcoin rally. With ETH historically leading altseasons, its strength could soon spill over into other undervalued assets.

Ethereum Finds Resistance After Explosive Rally

Ethereum has staged a remarkable recovery, rallying from April lows around $1,370 to a new local high of $2,609 in just over a month—a gain of nearly 90%. The chart shows a powerful breakout that sliced through previous resistance zones and brought ETH firmly above the $2,500 mark. However, price has now paused right below the 200-day SMA at $2,701 and the 200-day EMA at $2,431, two historically important resistance zones.

Volume has surged alongside the price, signaling strong participation and conviction from buyers. But after touching $2,609, ETH has started to show signs of consolidation as the daily candle prints a minor retrace. This could indicate temporary exhaustion as bulls digest the recent gains. A brief pullback or sideways movement around this zone would be a healthy development before any attempt to break the $2,700 resistance.

If Ethereum manages to reclaim the 200-day moving average cluster with strong volume, it could set the stage for a move toward $3,000. On the downside, holding above $2,400 will be key for maintaining the bullish momentum. With the macro sentiment improving and altcoins gaining strength, ETH remains a key asset to watch in the current cycle.

Featured image from Dall-E, chart from TradingView

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Crypto analyst Incognito has predicted that the Ethereum price could soon rally to as high as $2,700. This bullish prediction comes despite ETH’s underperformance so far, with the altcoin’s market share already dropping to new lows.

Ethereum Price Could Rally To $2,700 As Wyckoff Accumulation Nears

In a TradingView post, Incognito predicted that the Ethereum price could witness a big move to $2,700 with the Wyckoff accumulation almost over. He remarked that if support holds, the ETH should see a breakout of the falling wedge. The analyst’s accompanying chart showed that $2,499 is the target for the falling wedge, while $2,700 is the second target that Ethereum could reach on this breakout. 

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However, Incognito warned that this could be a huge trap to shake out sellers, so he advised market participants to be looking to take profits. In the meantime, the Ethereum price could indeed break out to the upside, especially with the Bitcoin price attempting to reclaim the $90,000 level. 

The Ethereum price is likely to reach new local highs if Bitcoin can sustain this bullish momentum, given their positive correlation. In an X post, crypto analyst Ali Martinez remarked that this week would be big for ETH as the TD Sequential just flashed a buy signal, hinting at a potential shift in momentum.  

Martinez also raised the possibility of the Ethereum price recording a new bull rally. For that to happen, he mentioned that ETH needs to break the supply wall at $2,330. The leading altcoin could face significant selling pressure at that range, as 12.62 million addresses bought 68.63 million ETH around that range. 

ETH May Have Already Bottomed

In an X post, crypto analyst Titan of Crypto suggested that the Ethereum price has already bottomed or may be bottoming out. He revealed that the leading altcoin is progressing within a giant ascending channel on the macro chart. His accompanying chart showed that ETH could rally to as high as $4,200 following this bullish reversal. 

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Crypto analyst Hardy also echoed a similar sentiment, suggesting that the Ethereum price has already reached its bottom. He noted that ETH’s weekly candle close was bullish and a good indicator of a potential reversal at the key support level around its current price. His accompanying chart showed that Ethereum could rally to as high as $4,300 on this bullish reversal. 

Ethereum price reclaiming the $4,000 level could pave the way for a rally to a new all-time high (ATH). Crypto analyst Crypto Patel predicted that ETH could reach between $6,000 and $8,000 by the end of the year. 

At the time of writing, the Ethereum price is trading at around $1,639, up almost 2% in the last 24 hours, according to data from CoinMarketCap.

Featured image from Unsplash, chart from Tradingview.com

Charles Edwards, founder of the Bitcoin and digital asset hedge fund Capriole Investments, published a detailed examination of Bitcoin’s current market phase suggesting a bullish trajectory, potentially reaching the $100,000 mark. The analysis hinges on the identification of a Wyckoff ‘Sign of Strength’ (SOS), a concept derived from the century-old Wyckoff Method that studies supply and demand dynamics to forecast price movements.

Understanding The Wyckoff ‘SOS’: Bitcoin To $100,000?

The Wyckoff Method, developed by Richard D. Wyckoff, is a framework for understanding market structures and predicting future price movements through the analysis of price action, volume, and time. The ‘Sign of Strength’ (SOS) within this methodology signifies a point where the market shows evidence of demand overpowering supply, indicating a strong bullish outlook.

Edwards’s observation of an SOS pattern in Bitcoin’s recent price movements suggests that the market is at a pivotal point, where sustained upward momentum is highly probable. In Capriole’s latest newsletter, Edwards offered a precise depiction of Bitcoin’s market behavior, highlighting a period of volatility and consolidation in the $60,000 to $70,000 range.

This phase was anticipated by the hedge fund. Currently, as Bitcoin ventures above its last cycle’s all-time highs, it aligns with the predicted zig-zag SOS structure. Edwards elucidates, “It would not be surprising to see a liquidity grab at / into all-time highs […] All consolidation above the Monthly level at $56K is extremely bullish. It would be uncommon (but not impossible) for price to continue in a straight line up.”

The “zig-zag” phase also perfectly aligns with the halving cycle as BTC tends to consolidate “both months either side of the Halving.” Edwards added that “the realities of a much lower supply growth rate + unlocked pent up tradfi demand will then kick-in and launch 12 months of historically the best risk-reward period for Bitcoin.”

From a technical perspective, Bitcoin’s foray into price discovery territory above $70,000 is devoid of significant resistance levels. This opens a pathway to psychological and Fibonacci extension levels, with Edwards pinpointing $100,000 as the next major psychological resistance.

The 1.618 Fibonacci extension from the 2021 high to the 2022 low is noted at $101,750, serving as a technical marker for potential resistance. Edwards reflects on investor sentiment, stating, “You can also imagine quite a few investors would be happy seeing six-digit Bitcoin and taking profit in that zone,” acknowledging the psychological impact of such milestones.

BTC Fundamentals Support The Bull Case

Edwards also delves into the importance of fundamentals, underscoring their role in providing a bullish backdrop for Bitcoin. The introduction of the Dynamic Range NVT (DRNVT), a unique metric to Capriole, indicates that Bitcoin is currently undervalued. Edwards describes DRNVT as “Bitcoin’s ‘PE Ratio’”, which assesses the network’s value by comparing on-chain transaction throughput to market capitalization.

The current DRNVT readings suggest an attractive investment opportunity, given Bitcoin’s undervaluation at all-time price highs. “What’s fascinating at this point of the cycle is that DRNVT is currently in a value zone. With price at all time highs, this is a promising and unusual reading for the opportunity that lies ahead in 2024. It’s something we didn’t see in 2016 nor 2020,” Edwards remarked.

With both technical indicators and fundamental analysis signaling a bullish future for Bitcoin, the anticipation surrounding the upcoming Halving event adds further momentum to the positive outlook. Despite the expectation of volatility and consolidation in the short term, Edwards confidently states, “probabilities are starting to skew to the upside once again.”

At press time, BTC traded at $69,981.

Featured image from Shutterstock, chart from TradingView.com

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