- Ethereum failed three times in 4K, but after touching support, it shows signs of higher movement.
- The chart shows ETH bouncing off the key green zone. This could be a lack of pre-breakout steps.
- Traders are currently watching ETH in-depth for $3.8K. This is because it suggests that historical action could pass $4K this time.
Ethereum (ETH) is approaching a $4,000 resistance level after regaining its major trendline, based on Benjamin Cowen’s analysis. Cryptocurrencies have previously been unable to break past this psychological level on three separate occasions. However, Cowen’s annotated chart suggests that the narrative could change as ETH “goes home” to the long-term channel.
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The weekly chart shared on July 31, 2025 shows Ethereum currently trading around $3,835. A horizontal resistance line drawn at $4,000 represents the key threshold. Historic price action shows that ETH was rejected multiple times when it was not touched by its base in this zone. According to Cowen, “home” refers to a lower trendline that serves as structural support over the wider cycle.
Now that ETH has revisited this trendline and bounced back strongly, Cowen suggests, “We should break 4K when we get home.” This reaffirms the bullish outlook as assets enter a critical technological fork.
Chart analysis highlights potential breakouts
Building on Kraken Exchange data, Cowen’s chart covers weekly candles from mid-2021 to July 2025. This shows three major rejections at the $4,000 level. These unsuccessful attempts occurred when ETH approached 4K without first revisiting the green ascending channel.
The highlighted green zone represents a long-term accumulation band or support base. Es deviated from it several times, but now he’s back alone and appears to have bounced convincingly. The recent recovery of this zone is indicated by the phrase “ETH GOEN HOME” and indicates a reset or retest of the macro structure.
From a technical standpoint, revisiting and rebounding from such basic support allows you to create favorable conditions for breakouts. Cowen’s caption is humorous, but clearly suggests that this time it may be different. “ETH should break $4K when you get home,” the chart reads.
If that happens, ETH will need to maintain momentum above $4,000 to escape the ceiling of previous cycles. A clean technology setup could push it towards a potentially new history high if demand continues.
Community Responses and Broader Implications
Cowen’s post attracted considerable attention, earning over 295,000 views and nearly 6,600 likes on X (formerly Twitter). Community responses show mixed optimism with curiosity about the next move. One user asked, “What if I need to go home before breaking $4K?” Cowen replied, “My guess is that the next time I go back to “home”, it will be after all the highs.”
This reply frames the current price movement within a wider circulation pattern. The assumption is that the base is established and there is a greater likelihood of an increase.
The $4,000 level is a huge resistance not only technically but also psychologically. In past cycles, large modifications have been made, as Ethereum could not close above this level.
Given this context, Cowen’s interpretation is stylized, but draws attention to the structural behavior of ETH over time. Can Ethereum finally overcome the long-standing $4,000 ceiling since he touched the house?
$4K Level Historical Relevance
In early 2022, ETH surged to nearly $4,000, but was quickly denied. We made a similar attempt later that year at the beginning of 2024. Each of these meetings stopped at roughly the same level, reinforcing their role as solid resistance.
Unlike previous attempts, current price action is supported by a return to a lower upward channel. According to Cowen, this return completes the structural requirements that are often required before breakouts are maintained.
If ETH violates $4K in the coming days or weeks, we may verify the setup shared by Cowen. Volume, market sentiment, and broader cryptographic conditions play a key role.
The market is closely monitored because of the Ethereum trajectory at a potential turning point. The setup is technical, but emotions are now focused on whether “home” is missing all along.