Citing Biji Network, Ethereum is currently caught between a textbook double top pattern and one of its strongest on-chain support levels. Traders are closely watching whether the 3150 USD area can absorb selling pressure or confirm further price declines from recent highs. The double top pattern on Ethereum’s daily chart shows two failed breakouts near the same resistance zone, previously seen in 2021 and 2025, where prices stalled near 4500 USD before falling. The symmetry of the pattern reinforces the technical significance of the area as a strong support. Meanwhile, on-chain data shows a large accumulation zone near 3150 USD, with over 2.5 million ETH bought in the region, making it one of the most concentrated accumulation areas in this cycle. Additionally, a major whale continues to build aggressive leveraged long positions on Aave, currently holding 1.42 billion USD worth of ETH, supported by 467 million USD in borrowed stablecoins.
Ethereum Faces Double Top Pattern Amid 3150 USD Support Battle
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