A cryptocurrency trading expert has identified a key level that could confirm Ethereum’s ( ETH ) bullish momentum, as whales continue to accumulate the second-largest digital asset by market cap. According to Ali Martinez, Ethereum must decisively break above the $4,100 resistance level to trigger its next major rally, as he noted in an X post on July 29. The analysis is based on the weekly chart, where the asset has shown a strong recovery from its lows around $1,500 earlier this year. Recent candles indicate a steady climb above key support zones at $2,200 and $3,300. ETH price analysis chart. Source: TradingView Currently, ETH is trading just below the critical $4,100 level, which has previously acted as a point of rejection. As per the outlook, a confirmed breakout and close above this zone could pave the way toward $5,000 and beyond. The analysis projects a period of sideways consolidation just under $4,100 before an anticipated breakout, aligning with a bullish technical structure. This outlook is reinforced by increased whale activity, as large holders appear to be accumulating ETH in anticipation of a breakout. Whales go big on Ethereum Meanwhile, Ethereum has been a standout performer in recent weeks, largely driven by institutional inflows into exchange-traded funds. To this end, on-chain data shows that 1.28 million ETH was accumulated in July alone, with the associated products recording net inflows totaling $1.28 billion. ETFs have accumulated 1.28 million Ethereum $ETH in July alone! pic.twitter.com/WXR9C78K7Z — Ali (@ali_charts) July 29, 2025 At press time, Ethereum was trading at $3,817, down about 1.5% over the past 24 hours but up more than 3% on the week. ETH seven-day price chart. Source: Finbold Looking ahead, Ethereum appears poised to rechallenge the $4,000 mark, though it needs strong support above the $3,800 level to sustain upward momentum. Featured image via Shutterstock The post Here’s when Ethereum’s ‘real breakout begins’ as whales go big on ETH appeared first on Finbold .