ETH Trades 33% Below 2021 Peak at $3,200 as Accumulation Zone Forms

⬤ Ethereum is currently trading around $3,200—roughly 33% below its 2021 peak of $4,800—while sitting in what many traders see as a long-term accumulation zone. Unlike Bitcoin, which has already pushed to fresh all-time highs, ETH hasn’t been able to reclaim its previous cycle top. The price action shows Ethereum repeatedly bouncing off a support area that’s been attracting buyers for several years now, creating what some call a “generational bottom” formation.

⬤ Weekly charts reveal a clear imbalance: Bitcoin’s making new highs while Ethereum lags behind. But history suggests this setup could be significant. In past cycles, once ETH finally broke above its old record and held there, sharp acceleration typically followed. Chart projections show a potential path toward $10,000 if ETH manages to clear the $4,800 resistance level decisively, though nothing’s guaranteed in crypto markets.

⬤ The current trading range might represent a massive accumulation phase where smart money positions itself before the next leg up. Volume patterns support the idea that serious participation is happening at these levels. What makes this particularly important is Ethereum’s role as the backbone of DeFi and smart contracts—when ETH moves, altcoins typically follow. Whether it stays capped below $4,800 or breaks through could set the tone for the entire crypto market’s next phase.