- Ethereum rebounded 17% as U.S. ETFs pulled in $291M over two sessions, reviving institutional demand.
- Tom Lee–linked wallets accumulated $185.6M in ETH this week, adding momentum to the rally.
- A falling wedge pattern points to a potential breakout toward $4,500–$4,600 if ETH holds above $3,150.
Ethereum’s price snapped back with surprising force this week, climbing from a sharp low near $2,620 and reclaiming the $3,000 handle after a clean 17% rebound. The move didn’t just appear out of thin air — it formed as a direct reaction to a surge of institutional inflows, with U.S.-listed Ethereum ETFs pulling in $291 million across just two consecutive trading sessions. It’s the kind of fast-paced accumulation that tends to spark sudden confidence, especially after a week of heavy volatility that had traders on edge.
The return of discretionary buyers has been particularly noticeable, with derivatives markets lighting up again as spot demand quietly built underneath. One of the more interesting signals came from Arkham, which reported that Tom Lee–linked wallets funneled another $44.3 million worth of ETH into Bitmine-related holdings. That brought their total weekly accumulation to a hefty $185.6 million, adding yet another layer of momentum to the recovery. By Nov. 28, Ethereum had already touched intraday highs near $3,070, a level traders weren’t expecting to see quite this soon given last week’s drop.
Key Investors Reinforce Bullish Structure as Technical Outlook Turns Upward
In a Nov. 24 press release confirming the annual shareholders meeting scheduled for January 2026 in Las Vegas, Lee doubled down on Ethereum’s mid-term strength. He reiterated the importance of the $2,500 support zone and hinted that a broader supercycle may be emerging — a comment that set social feeds buzzing. It’s still speculative, sure, but the market response suggests traders haven’t dismissed the idea.
Zooming out, ETH’s price structure is beginning to form a clear falling wedge pattern, which traditionally signals a bullish reversal once the final breakout confirms. This wedge — tightening for weeks — now outlines a potential 50% rally if the price can sustain above the resistance pocket sitting between $3,150 and $3,200. With MACD crossing into positive territory and Woodies CCI finally holding above zero, the momentum shift is becoming harder to ignore. Even liquidity measures that were thinning out earlier in the month have started to stabilize, giving bulls a little more room to push.
Ethereum Eyes Breakout Toward $4,600, Pending Confirmation Above Mid-Wedge Resistance
As Ethereum creeps closer to the Keltner Channel’s middle band at $3,108, momentum indicators are syncing in a way that suggests an upcoming pressure build. A daily close above the mid-wedge resistance — the key zone between $3,150 and $3,200 — would act as a proper confirmation signal. If that breakout locks in, the measured move from the wedge structure points to a target between $4,500 and $4,600, marking a clean 53% upside from where ETH is currently orbiting.
But there’s also the other side of the equation. Ethereum’s bullish setup starts to unravel if price slips beneath $2,880, a support shelf that has repeatedly caught downside attempts this month. Losing that level could compress momentum, drag confidence back down, and potentially send ETH revisiting the $2,744 zone sitting near the lower boundary of the Keltner Channel. Such a move would likely invalidate the wedge’s bullish implication — at least in the short term.
Market Still Leaning Bullish, but Confirmation Remains the Deciding Factor
The past eight days have reshaped Ethereum’s outlook, with heavy institutional flows shifting the narrative from caution to cautious optimism. A 17.8% rebound backed by measurable on-chain accumulation isn’t just noise — it’s a concrete signal that deeper pockets are stepping back in. Still, the market now waits for the final confirmation: a decisive move above the $3,150–$3,200 band.
If bulls clear that stretch, Ethereum could find itself barreling toward the $4,600 area faster than most expect. Until then, the setup remains promising but unfinished, hanging delicately on the strength of current support zones. Here is where the next leg of the trend will reveal itself.
