Ethereum (Eth) just bounced off the same ceiling for the fourth time, and while many say it’s the end of the rally, Galaxy Digital’s Mike Novogratz isn’t sure. With a rare price outlook, Novograts suggested that ETH may not be ready to crash yet. In fact, it could have been set for a breakout that had been solidly past $4,000 by the end of 2025.
The commentary follows the charts that have been making rounds, and some people call it “the top of the quadruple.” As explained in the textbook, repeated rejection at the same level appears to ultimately lead to breakdowns.
However, there is a reason why most traders only talk about double or triple tops. The fourth touch does not tend to play under the same rules. It’s easy to mistake fatigue for something else, but once resistance ultimately gives way, it can turn into a game-changing move.
I’ve been trading on time, but I haven’t heard that the “Four-Leaf Top” formation is bearish. Usually we fix some and then take the top out for the next leg. 3K-4K has been in range for a while. But my instinct is that by the end of the year, it will be 4K. It’s not 3K. https://t.co/pfz7d3kbcs
– Mike Novogratz (@Novogratz) August 1, 2025
Currently, ETH is stuck between $3,200 and $4,000. Ethereum has been absorbing sellers in this range for several months, and each time it returned to the top, it hit a higher low and recovered faster.
Mike Novogratz says ETH may be tighter before seeing some major changes. So, if the price is over $4,000, many people wouldn’t be surprised.
In a market that still understands the next story, ETH may not be able to make headlines – especially if $4,000 ultimately becomes support rather than resistance.
