Ethereum\u2019s latest monthly candle closed above a key resistance level around $2,470 on August 31, prompting analyst Matthew Hyland to declare on X that the downtrend that started in August 2025 is over.<\/p>\n
He framed the close as the first confirmation that a new bull market has started, comparing the current chart structure to the setups that preceded ETH\u2019s 2016 and 2020 rallies.<\/p>\n
Hyland\u2019s chart runs<\/a> from ETH\u2019s 2025 peak, hit in August of that year, through a steady run of lower highs and lower lows that bottomed out near $1,500 to $1,600 in June and July of this year.<\/p>\n \u201cETH confirms a Monthly Higher_High and ends its downtrend that started in August of 2025,\u201d Hyland posted. \u201cThe Bears have been slayed. WELCOME TO THE #CRYPTO BULL MARKET!!\u201d<\/p>\n Other traders have been circling the same zone, including DonAlt, who wrote that ETH has \u201cNo real resistance till $4k,\u201d pointing to support around $2,100 and warning that a break below $2,000 could send price toward $1,000.<\/p>\n Fellow market watcher Daan Crypto Trades pointed out<\/a> that ETH has spent the last 11 days pinned between its weekly 200-period moving average and a horizontal support level.<\/p>\n Another analyst, Quantum Ascend, noted<\/a> that ETH\u2019s monthly candle closed near its 50-month simple moving average with the RSI still deeply oversold, a setup that last showed up in spring 2025, right before the token rallied 3.5x in five months, and he says he\u2019s \u201cexpecting a new all-time high\u201d based on the move.<\/p>\n At the time of writing, the second-largest crypto asset was trading above $2,400, up roughly 31% over the past month and 30% in two weeks, while remaining about 50% below its record price of over $4,900 from August last year.<\/p>\n ETH\u2019s price recovery is happening alongside increased network activity. As CryptoPotato<\/em> reported, Ethereum is approaching<\/a> 1 million active addresses, despite substantial activity taking place across Layer 2 networks.<\/p>\n That gives the price move some additional context, although active addresses alone cannot establish whether ETH has entered a new long-term cycle. Tron, for example, has more than 4 million active addresses, largely linked to payments and stablecoin transfers.<\/p>\n For now, the cleanest test of Hyland\u2019s thesis is whether ETH can hold the $2,470 breakout area. A sustained move above it would leave the $4,000 region as the next major target cited by traders, while a failure below $2,000 would considerably weaken the bullish structure.<\/p>\n More on Ethereum can be found in our market video below:<\/p>\n\n The post Analyst Declares Bull Market After ETH Breaks Key Monthly Resistance<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Ethereum\u2019s latest monthly candle closed above a key resistance level around $2,470 on August 31, prompting analyst Matthew Hyland to declare on X that the downtrend that started in August 2025 is over. He framed the close as the first confirmation that a new bull market has started, comparing the current chart structure to the […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-221337","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/221337"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=221337"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/221337\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=221337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=221337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=221337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Network Activity Adds Another Piece<\/h2>\n