Ethereum is showing renewed strength, with its price pushing to $4,315 after a successful and decisive bounce from a key support zone. The recovery validates recent analyses from top traders who had flagged the dip as a high-probability buying opportunity.
“High-Probability” Bounce Plays Out
Just days ago, market strategist Michaël van de Poppe identified the $4,000 to $4,200 range as a strong support block where a bounce was highly likely. His analysis, which assigned a 70% probability to a reversal, appears to have been spot on.
The dip into that zone was met with strong buying pressure, confirming it as a classic accumulation area. This technical strength for a potential ETH revenge rally is backed by underlying demand, as shown by the record-breaking Ethereum (ETH) ETPs $2.9 Billion weekly inflowreport.
This is the ideal area for dip buying on $ETH.
I wouldn’t be surprised if we’re getting a 10% bounce from here.
Volatility to go down on Ethereum and accumulation to start.
Always buy the dip. pic.twitter.com/v1GKcmqEC4
— Michaël van de Poppe (@CryptoMichNL) August 20, 2025
The Decisive “Wedge” Breakout
Adding to the bullish momentum, Ethereum has now successfully reclaimed a “falling wedge” structure on the 4-hour chart. According to analyst TedPillows, who was tracking the pattern, the bounce from the $4,000 level and subsequent push above the wedge boundary was the critical move bulls needed to see.
With the price now firmly above the $4,300 resistance, the immediate path appears open for a retest of the $4,400 area. A sustained hold at these new levels would significantly strengthen the case for a continuation back toward the recent highs near $4,600.
$ETH is trying to reclaim the wedge.
If Ethereum is able to reclaim this, we’re probably seeing more upside.
Overall it look strong. pic.twitter.com/vObPYDEiWa
— Ted (@TedPillows) August 20, 2025
Market Indicators and Sentiment Outlook
ETH/USD daily price chart, Source: TradingView
Market indicators are reflecting this renewed bullish strength. The MACD remains positive, confirming that the underlying momentum continues to favor buyers.
Meanwhile, the RSI reading of 67.5 shows Ethereum approaching overbought conditions, signaling that sideways consolidation or minor pullbacks could occur before stronger continuation.
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