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Ethereum’s (ETH) recent price structure is drawing comparisons to its 2020 cycle.
At the time of writing, ETH was priced at around $3,900, with a daily trading volume of $33.3 billion. The token has declined 4% in the last 24 hours and 3% over the past week.
Price Sits Below Prior High
Ethereum is trading just below its former peak, a level last tested before the 2020 rally. According to Cryptocium, the structure today looks nearly the same. In both periods, ETH paused at resistance after months of consolidation and later broke out with momentum.
$ETH – History Repeats Itself
Ethereum might seem slow right now, but in reality, it’s forming the exact same price action we saw back in the 2020 cycle.
ETH is sitting at its previous ATH level, while the RSI is retesting its bearish trendline.
Same thing, different time, pic.twitter.com/v7YV7pvzNM
— Cryptocium (@Cryptocium_id) October 21, 2025
Notably, the current resistance area is around $4,000 to $4,100. Analysts have noted that ETH needs to close above this level to confirm any continued move. Until then, the price remains in a zone that has rejected attempts to climb higher.
In addition, the Relative Strength Index (RSI) also follows a familiar path. During the 2020 move, RSI spent months under a trendline before breaking out just ahead of the rally. ETH is now testing a similar line again.
Cryptocium described the setup as “the same thing, different time,” noting how the current RSI structure matches the previous one. If the RSI pushes through, it may suggest a shift in momentum. For now, traders are watching to see if the pattern holds.
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Traders Monitor $3,900–$4,100 Zone
Javon Marks posted a chart showing Ethereum retesting the breakout zone near $3,900. He noted that a measured move from this setup could put ETH above $8,000 if the level holds. This type of projection uses the height of the previous range to estimate the next move.
DaanCrypto said, “You’d want to see some daily close above that point,” referring to the $4,100 area. Other analysts added that a drop to $3,750 would open the door for long setups if a bounce follows. If not, the price may test lower ranges.
Large Buyers Remain Active
While price action has been mixed, institutional demand continues. BitMine Immersion Technologies made another Ether purchase this week. The company acquired $250 million worth of ETH from Bitgo and Kraken, as CryptoPotato reported.
Funds also charted inflows. Ethereum-based products took in $205 million over the last week. A 2x leveraged ETP brought in $457 million, showing that large players are still positioning during this consolidation.
