Ethereum (ETH) looks poised for another push higher after a popular market technician, Michaël van de Poppe, highlighted what he called a “massively strong chart” for the asset. He was calling attention to a high-timeframe structure that, if confirmed on lower timeframes, would set the stage for “another test of the highs.” The call comes as Ethereum trades in the mid-$4,000s and the market digests mixed macro signals and big options and futures flows.
Van de Poppe’s tweet and the annotated chart he shared put a spotlight on a clear support band near the $4,100–$4,300 area and a nearby “area to buy for bounces” where buyers have stepped in after recent profit-taking. Traders following the chart are watching whether smaller timeframes stitch together a higher-timeframe (HTF) base; if so, the path toward a re-test of last month’s highs becomes much more likely, and that momentum could spill into altcoins as he suggested.
Price and Order-flow Context
As of now, Ethereum is trading roughly around $4,290, off the peak from earlier in the month but still comfortably above several long-term moving averages that bulls cite as confirmation of the trend. Volume across major venues has been choppy as the market rotates between risk-on and profit-taking.
On-chain and derivatives data add texture to the setup. Experts note a short-liquidation “magnet” in the $4,300–$4,360 band, a region where squeezed shorts could accelerate a short-term rally, and flagged a large leveraged long position (roughly $16.3 million at 25x) that some traders have placed, betting against a deeper drop below key support. Those concentrated flows mean price action around $4,300 will be especially volatile and watched closely by options and futures desks.
Major exchange technical notes have been consistent with the idea of a short-term pullback into a demand zone that could quickly reverse: analysts point to immediate support near $4,150 and highlight resistance in the $4,700–$4,800 range (the all-time-high area) as the next meaningful roadblock on any sustained upside. A decisive break back above the $4,300–$4,400 cluster would, in many charts, open a clear run toward those highs; conversely, a failure to hold the $4,100s could widen the pullback toward lower structural supports.
Why Altcoins Could Benefit
Van de Poppe’s view is explicit: a confirmed HTF base and fresh test of the highs for ETH typically breeds rotation into altcoins, which historically see magnified returns during Ethereum-led bullish legs. If the ETH price reclaims and holds its higher levels, capital often flows into smaller-cap tokens and DeFi names built on Ethereum, boosting their performance relative to the market. This dynamic is part of why institutional flows (ETFs, large spot buys) and retail momentum around ETH are watched closely by altcoin traders.
Van de Poppe’s chart and call are a reminder that technical structure still matters to many market participants even as headlines, ETF flows and macro crosswinds influence price. For traders, the next 48–72 hours, and the behavior around the $4,300 band, will be critical in deciding whether Ethereum pivots toward another push at the highs and whether altcoins get a fresh lift. As always, traders should size positions carefully around known liquidation clusters and keep an eye on broader market risk.
