ETH Shrugs Off Bear Costume, Finally Lets the Chart Catch Its Breath 🐻➡️🐂

Ethereum's $ETH price action has broken out of a descending channel pattern that had capped gains since late August, with the token trading above $4,000 in early Monday action after touching lows near $3,850 over the weekend. The shift in structure came alongside a broader risk-on move across crypto markets, with Bitcoin $BTC also reclaiming the $112,000 handle.

Technical analysts cited by CryptoNews pointed to the channel breach as the first confirmed break of bearish momentum since the August rejection near $4,300. A sustained close above the channel's upper boundary, around $4,050, would invalidate the prior downtrend, while a failure to hold that level would send price back into consolidation between roughly $3,850 and $4,000.

Sentiment around Ethereum has been buoyed in recent days by commentary from notable figures, including author Robert Kiyosaki reiterating his preference for ETH among hard assets, and Solana founder Anatoly Yakovenko expressing support for the Ethereum Foundation following its reported staff cuts. On-chain data also shows spot ETH ETF flows turning positive again after several weeks of net outflows, though trading volumes remain below the levels seen during the July rally to $4,300.

Market participants are watching the $4,120 resistance closely, with a clean break potentially opening a path toward the $4,300 zone retest, while downside support sits at the $3,920 prior resistance turned floor. The move follows a week in which the broader crypto market capitalization added roughly 3.2%, with altcoins including $SOL and $XRP posting weekly gains above 7%.