Ethereum is facing repeated rejections at key resistance levels, while projections of future price movement continue to differ among analysts.
Current Market Situation of Ethereum
Ethereum has now rejected the resistance level for the fourth time, leading some analysts to speak of a potential 'quadruple top' formation, which often signals possible downward movements. However, at Galaxy Digital, led by Mike Novogratz, this pessimistic view is not shared.
Mike Novogratz's Predictions
Mike Novogratz believes that Ethereum may undergo a consolidation phase before upward movement resumes. He suggests that the current pattern indicates accumulation rather than exhaustion. He forecasts that Ethereum could surpass $4,000 before December 2025. Novogratz emphasized: 'I’ve been trading a long time and haven’t heard that the “quadruple top” formation is bearish. Usually, we correct some and then take out the top for the next leg up.'
Technical Analysis and Market Trends
Technical analysts note that quadruple tops occur less frequently than double or triple tops. Historical data shows that fourth resistance tests sometimes precede significant breakouts. The current Ethereum chart reveals price compression near the resistance zone, which often precedes directional decisions in asset prices. At present, Ethereum is trading approximately 18% below its all-time high.
It is expected that the coming weeks will determine whether consolidation resolves upward or downward. A confirmed breakout above resistance would validate Novogratz's projections.
