Ethereum Paints 70% Rebound Setup as BitMine Buys, ETF Inflows Return

Ethereum's native token, Ether (ETH), has fallen more than 60% from its 2025 peak near $4,700. Still, a combination of long-term technical support and renewed institutional accumulation suggests the cryptocurrency may be approaching another major rebound phase.

Ethereum Falling Wedge Targets $3,300

Ether was trading near $1,870 on Aug. 11, remaining trapped inside a large falling wedge structure on its weekly chart.

A falling wedge forms when price declines between two converging downward-sloping trendlines. Although the pattern develops during a downtrend, it is typically considered a bullish reversal setup once price decisively breaks above its upper trendline.

ETH is currently attempting to stabilize after bouncing from an accumulation zone (the red area) around $1,400–$1,600.

The same region served as support during Ethereum's 2023–2024 consolidation and again around its 2025 market bottom, preceding rallies of approximately 175% and 258%, respectively.

A rebound from the accumulation range could initially send ETH toward the wedge's upper trendline, currently approaching the $2,300–$2,500 region.

A decisive breakout above the resistance would strengthen the reversal thesis, putting the 0.50 Fibonacci retracement level near $2,885 into focus, followed by the 0.618 Fib level around $3,312.