- Galaxy Digital CEO projects consolidation could precede breakout toward $4,000 by late 2025 despite repeated resistance.
- Break above $3,600 resistance could confirm uptrend; failure to hold $3,200 support risks accelerated selling pressure.
Ethereum faces its fourth price rejection near a consistent resistance level. Some market participants interpret this pattern as a potential “quadruple top” formation. This technical structure often signals possible downward movement. Galaxy Digital CEO Mike Novogratz disagrees with this bearish outlook.
Novogratz suggests Ethereum may consolidate before upward movement resumes. His view indicates the current pattern might represent accumulation rather than exhaustion. He projects Ethereum could surpass $4,000 before December 2025. This assessment acknowledges the resistance level but anticipates its eventual breach.
I’ve been trading along time and haven’t heard the “quadruple top” formation as bearish. Usually we correct some and then take out the top for the next leg up. 3k-4k is now the range for a while. But my instinct is it will be 4k that goes by the end of the year. Not 3k. https://t.co/PFz7d3kbCS
— Mike Novogratz (@novogratz) August 1, 2025
Technical analysts note quadruple tops occur less frequently than double or triple tops. Historical data shows fourth resistance tests sometimes precede substantial breakouts. The current Ethereum chart shows price compression near the resistance zone. This tightening often precedes directional decisions in asset prices.
Market data indicates Ethereum trades approximately 18% below its all-time high. The resistance level in question has contained price advances multiple times since May 2025. Novogratz’s perspective counters prevailing concerns about repeated rejections. His firm Galaxy Digital actively manages cryptocurrency investments.
The $4,000 projection represents a 25% increase from current price levels. This outlook assumes Ethereum maintains support above $3,200. Trading volume patterns will likely influence near-term price direction. Market participants now watch for confirmation signals above $3,600.
Novogratz historically comments sparingly on specific price levels. This public assessment reflects his measured confidence in Ethereum’s positioning. Technical and fundamental factors both contribute to his evaluation.
The coming weeks may determine whether consolidation resolves upward or downward. A confirmed breakout above resistance would validate Novogratz’s projection. Conversely, failure to hold support could accelerate selling pressure.
Ethereum (ETH) trades around $3,692, up ~5.6% on the day, rebounding from last week’s dip.
Ecosystem & News Updates:
- Institutional Flows: BlackRock’s Ethereum ETF has now surpassed $4B in net inflows, signaling strong institutional demand.
- Treasury Accumulation: BitMine Immersion Technologies holds ~833,000 ETH (over $2.9B), boosted by its $1B buyback program and treasury strategy.
- On-Chain Activity Surge: Ethereum daily transactions are at a yearly high, with active wallets increasing sharply—256K new wallets in a single day—reflecting rising retail and institutional activity.
- Treasury Adoption: Multiple companies (Vault Ventures, Ether Machine, GameSquare) have purchased ETH for treasury allocations between late July and early August, signaling corporate confidence.
Technical Price Analysis
ETH is holding above $3,680–$3,700 support, with immediate resistance at $3,750–$3,800. A breakout above $3,800 could target $4,000–$4,080, aligning with bullish ETF momentum.
RSI is balanced, suggesting room for upside. A failure to hold $3,680 could lead to a pullback toward $3,500. The structure resembles a cup-and-handle breakout pattern, supporting bullish continuation.
Would you like me to also track latest Ethereum ETF updates and August derivatives positioning? That could refine short-term price expectations.
