- Ethereum price pattern mirrors its 2021 bull run, with active addresses surpassing 930,000 and whale activity rising.
- If ETH breaks above $4,000, it could rally 35% and reach $4,800.
Ethereum (ETH) is flashing bullish signals that mirror its legendary 2021 bull run, igniting speculation of a potential surge toward $4,800 this August. Despite a 6% dip to $3,625 at the start of the month, the data tells a more promising story.
Ethereum Active Addresses Hit Two-Year High
Ethereum recently recorded over 930,000 active addresses—the highest number since 2023. This surge in wallet activity signals increasing user participation and growing network demand. Large holders, or “whales,” are also returning, with addresses holding 10,000 ETH or more climbing to levels not seen since last year. Historically, this group’s accumulation has indicated fresh inflows into the asset rather than internal shuffling.
Echoes of the 2021 Bull Run
ETH had a standout July, rising 48% while Bitcoin managed just 8%. This performance reversed the trend of previous years, when Ethereum typically ended July in the red. Notably, August has been historically bearish for ETH too—down 22% last year—but in 2021, it gained 35% during the same month, setting the tone for its all-time high of $4,868 in November.
That same technical setup may now be re-emerging. Ethereum is once again testing the resistance levels it struggled with back in 2021. Analysts suggest that if ETH can break through the $4,000 mark, the rally could accelerate and push the price up to $4,800, reflecting the same 35% gain seen four years ago.
Breaking $4,000 Is Key
For Ethereum to reach that target, it must first overcome the critical $4,000 resistance level. A successful breach would confirm the bullish pattern and give investors confidence that a new upward leg is underway.
With on-chain metrics heating up and whale activity rising, Ethereum appears to be preparing for a strong move. If it follows the 2021 trajectory, a 35% rally this August could be on the cards—taking ETH close to the $4,800 mark once again.
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