Ethereum shows signs of strength across on-chain and technology indicators, and is now similar to the conditions seen just before the last highest height of 2021.
The ETH price is currently earning around $3,753, but due to a sharp decline in long-term holdings and a surge in Ethereum’s strength against Bitcoin, there is a possibility of a 40% breakout in the coming weeks.
Dormant eth stays quiet and institutions actively buy
Over the past two weeks, Ethereum’s consumption metrics have collapsed from a spike of 795 million on July 10th to just 12.47 million today. Over 98% drops. This metric tracks the amount of ETH being moved from an old wallet that has not been traded for a long time.
A sharp drop usually means that the long-term holders are holding the coin and not selling it to the meeting.
Ethereum price and age consumption metrics: Santiment
Simply put, Ethereum is creating new local highs, with the oldest holders not flashing. It is a strong signal of conviction for ETH prices. A type of behavior that is not usually seen near market tops.
Age-consuming measurements are often used to track whether long-term unmoving coins suddenly become active and long-term holders are leaving or being held strongly.
At the same time, institutional accumulation is intensifying. One outstanding example is Sharplink Gaming. This adds 19,084 ETH to the reserve in one move, worth more than $67.5 million.
When combined with previous purchases, Sharplink values 345,158 ETH at over $1.22 billion at press. So, although older ETHs are not moving, the major buyers are quietly stacked.
ETH/BTC ratios are the best ever set up
Since June 2025, the ETH/BTC ratio has risen from 0.021 to 0.031, indicating a 50% movement of Ethereum’s strength against Bitcoin. The current $3,753 price for Ethereum is roughly the same as it was in October 2021, just before the ratio rose by another 30% in five weeks. The move brings ETH prices to $4,878, the highest ever.
ETH/BTC ratio is in the highest phase of history: TradingView
At the time, the increase in the 30% ratio (ETH/BTC) coincided with ETH rising from $3,800 to $4,870. If the ratio continues to the same pass from the current level, a similar 28% move from $3,753 brings Ethereum closer to $4,800-$4,900, bringing it closer to the previous ATH breakout zone.
Also, if the psychological resistance level (previously history’s highest) is broken, there may not be much resistance to the next major price discovery level above $5,000.
Current ETH/BTC ratio: TradingView
The ETH/BTC ratio tracks how Ethereum works compared to Bitcoin, and often signals when ETH is gaining market share ahead of major gatherings. Meanwhile, ETH/BTC has already skyrocketed by more than 50% since June, continuing to release strong momentum through multi-EMA golden crossovers.
Ethereum price structure projects 40% of meetings
Ethereum’s price action follows the familiar roadmap, and now moves alongside the relative strength of the chain conviction against Bitcoin. After regaining key resistance close to $3,635 (0.786 FIB level), the assets are consolidated just under the $3,832 zone. From here, the previous record highs serve as a psychological barrier.
But first, the ETH price should be over $4,402. This is the next important resistance.
Ethereum Price Analysis: TradingView
In 2021, Ethereum attracted almost 28% from this zone as the ETH/BTC ratio rose 30% in just five weeks. Based on current levels, a similar move from $3,753 would bring Ethereum back to its current record high.
However, this time there is a clear case where price discovery expands beyond that mark as long-term holders are inactive and ETH gains control. If the previous high was broken by a conviction, the structure suggests a continuation to $5,324, representing a 41.86% move from the current price.
However, a breakdown below $3,128 disables this structure and suggests that the rally didn’t take over, making it an important level of support to watch.
