diff --git a/explorer/interpreter/pattern_match.cpp b/explorer/interpreter/pattern_match.cpp
index 507ed9feda7d..30166fc78b4e 100644
--- a/explorer/interpreter/pattern_match.cpp
+++ b/explorer/interpreter/pattern_match.cpp
@@ -61,9 +61,11 @@ auto PatternMatch(Nonnull<const Value*> p, ExpressionResult v,
                   BindingMap& generic_args, Nonnull<TraceStream*> trace_stream,
                   Nonnull<Arena*> arena) -> bool {
   if (trace_stream->is_enabled()) {
-    *trace_stream << "match pattern " << *p << "\nfrom "
-                  << ExpressionCategoryToString(v.expression_category())
-                  << " expression with value " << *v.value() << "\n";
+    trace_stream->Match() << "match pattern `" << *p << "`\n";
+    trace_stream->Indent() << "from "
+                           << ExpressionCategoryToString(
+                                  v.expression_category())
+                           << " expression with value `" << *v.value() << "`\n";
   }
   const auto make_expr_result =
       [](Nonnull<const Value*> v) -> ExpressionResult {
diff --git a/explorer/testdata/trace/context_main.carbon b/explorer/testdata/trace/context_main.carbon
index ee6ae85abbf8..a58ee288c07a 100644
--- a/explorer/testdata/trace/context_main.carbon
+++ b/explorer/testdata/trace/context_main.carbon
@@ -272,8 +272,8 @@ fn Main() -> i32 {
 // CHECK:STDOUT: <[] stack-pop:  ValueExpressionAction pos: 1 `Main` results: [`fun<Main>`]  (<Main()>:0)
 // CHECK:STDOUT: ->> step ExpressionAction pos: 1 `Main()` results: [`fun<Main>`]  scope: [] (<Main()>:0) --->
 // CHECK:STDOUT: -() calling function: fun<Main>
-// CHECK:STDOUT: match pattern ()
-// CHECK:STDOUT: from value expression with value ()
+// CHECK:STDOUT: === match pattern `()`
+// CHECK:STDOUT:     from value expression with value `()`
 // CHECK:STDOUT: >[] stack-push: ScopeAction pos: 0  scope: [] (None)
 // CHECK:STDOUT: >[] stack-push: StatementAction pos: 0 `{return 0;}` (context_main.carbon:11)
 // CHECK:STDOUT: ->> step StatementAction pos: 0 `{return 0;}` (context_main.carbon:11) --->
diff --git a/explorer/testdata/trace/phase_all.carbon b/explorer/testdata/trace/phase_all.carbon
index 4ffc6b7cac33..ceca5c6b3be9 100644
--- a/explorer/testdata/trace/phase_all.carbon
+++ b/explorer/testdata/trace/phase_all.carbon
@@ -490,8 +490,8 @@ fn Main() -> i32 {
 // CHECK:STDOUT: <[] stack-pop:  ValueExpressionAction pos: 1 `Main` results: [`fun<Main>`]  (<Main()>:0)
 // CHECK:STDOUT: ->> step ExpressionAction pos: 1 `Main()` results: [`fun<Main>`]  scope: [] (<Main()>:0) --->
 // CHECK:STDOUT: -() calling function: fun<Main>
-// CHECK:STDOUT: match pattern ()
-// CHECK:STDOUT: from value expression with value ()
+// CHECK:STDOUT: === match pattern `()`
+// CHECK:STDOUT:     from value expression with value `()`
 // CHECK:STDOUT: >[] stack-push: ScopeAction pos: 0  scope: [] (None)
 // CHECK:STDOUT: >[] stack-push: StatementAction pos: 0 `{var x: i32 = N.Foo(0);return x;}` (phase_all.carbon:18)
 // CHECK:STDOUT: ->> step StatementAction pos: 0 `{var x: i32 = N.Foo(0);return x;}` (phase_all.carbon:18) --->
@@ -528,10 +528,10 @@ fn Main() -> i32 {
 // CHECK:STDOUT: <[] stack-pop:  ExpressionAction pos: 0 `0` (phase_all.carbon:16)
 // CHECK:STDOUT: ->> step ExpressionAction pos: 2 `N.Foo(0)` results: [`fun<N.Foo>`, `0`]  scope: [] (phase_all.carbon:16) --->
 // CHECK:STDOUT: -() calling function: fun<N.Foo>
-// CHECK:STDOUT: match pattern (Placeholder<n>,)
-// CHECK:STDOUT: from value expression with value (0,)
-// CHECK:STDOUT: match pattern Placeholder<n>
-// CHECK:STDOUT: from value expression with value 0
+// CHECK:STDOUT: === match pattern `(Placeholder<n>,)`
+// CHECK:STDOUT:     from value expression with value `(0,)`
+// CHECK:STDOUT: === match pattern `Placeholder<n>`
+// CHECK:STDOUT:     from value expression with value `0`
 // CHECK:STDOUT: >[] stack-push: ScopeAction pos: 0  scope: [`n: i32`: `0`] (None)
 // CHECK:STDOUT: >[] stack-push: StatementAction pos: 0 `{return (n + 1);}` (phase_all.carbon:13)
 // CHECK:STDOUT: ->> step StatementAction pos: 0 `{return (n + 1);}` (phase_all.carbon:13) --->
@@ -597,8 +597,8 @@ fn Main() -> i32 {
 // CHECK:STDOUT: var x: i32 = N.Foo(0);
 // CHECK:STDOUT: ```
 // CHECK:STDOUT: <-- memory-read: #1 `1`
-// CHECK:STDOUT: match pattern Placeholder<x>
-// CHECK:STDOUT: from initializing expression with value 1
+// CHECK:STDOUT: === match pattern `Placeholder<x>`
+// CHECK:STDOUT:     from initializing expression with value `1`
 // CHECK:STDOUT: <[] stack-pop:  StatementAction pos: 1 `var x: i32 = N.Foo(0);` results: [`1`]  (phase_all.carbon:16)
 // CHECK:STDOUT: ->> step StatementAction pos: 1 `{var x: i32 = N.Foo(0);return x;}` scope: [`x: i32`: `lval<Allocation(1)>`] (phase_all.carbon:18) --->
 // CHECK:STDOUT: *** statement at (phase_all.carbon:18)
diff --git a/explorer/testdata/trace/phase_execution.carbon b/explorer/testdata/trace/phase_execution.carbon
index 895444f2e142..12679637e2a6 100644
--- a/explorer/testdata/trace/phase_execution.carbon
+++ b/explorer/testdata/trace/phase_execution.carbon
@@ -56,8 +56,8 @@ fn Main() -> i32 {
 // CHECK:STDOUT: <[] stack-pop:  ValueExpressionAction pos: 1 `Main` results: [`fun<Main>`]  (<Main()>:0)
 // CHECK:STDOUT: ->> step ExpressionAction pos: 1 `Main()` results: [`fun<Main>`]  scope: [] (<Main()>:0) --->
 // CHECK:STDOUT: -() calling function: fun<Main>
-// CHECK:STDOUT: match pattern ()
-// CHECK:STDOUT: from value expression with value ()
+// CHECK:STDOUT: === match pattern `()`
+// CHECK:STDOUT:     from value expression with value `()`
 // CHECK:STDOUT: >[] stack-push: ScopeAction pos: 0  scope: [] (None)
 // CHECK:STDOUT: >[] stack-push: StatementAction pos: 0 `{var x: T = {}.(interface ImplicitAs(T = class T).Convert)();return 0;}` (phase_execution.carbon:12)
 // CHECK:STDOUT: ->> step StatementAction pos: 0 `{var x: T = {}.(interface ImplicitAs(T = class T).Convert)();return 0;}` (phase_execution.carbon:12) --->
@@ -106,8 +106,8 @@ fn Main() -> i32 {
 // CHECK:STDOUT: <[] stack-pop:  ValueExpressionAction pos: 1 `{}.(interface ImplicitAs(T = class T).Convert)` results: [`bound_method<Convert>`]  (phase_execution.carbon:10)
 // CHECK:STDOUT: ->> step ExpressionAction pos: 1 `{}.(interface ImplicitAs(T = class T).Convert)()` results: [`bound_method<Convert>`]  scope: [] (phase_execution.carbon:10) --->
 // CHECK:STDOUT: -() calling function: bound_method<Convert>
-// CHECK:STDOUT: match pattern ()
-// CHECK:STDOUT: from value expression with value ()
+// CHECK:STDOUT: === match pattern `()`
+// CHECK:STDOUT:     from value expression with value `()`
 // CHECK:STDOUT: >[] stack-push: ScopeAction pos: 0  scope: [`self: Self`: `{}`] (None)
 // CHECK:STDOUT: >[] stack-push: StatementAction pos: 0 `{return __intrinsic_implicit_as_convert(self, U);}` (prelude.carbon:{{\d+}})
 // CHECK:STDOUT: ->> step StatementAction pos: 0 `{return __intrinsic_implicit_as_convert(self, U);}` (prelude.carbon:{{\d+}}) --->
@@ -173,8 +173,8 @@ fn Main() -> i32 {
 // CHECK:STDOUT: var x: T = {}.(interface ImplicitAs(T = class T).Convert)();
 // CHECK:STDOUT: ```
 // CHECK:STDOUT: <-- memory-read: #1 `T{}`
-// CHECK:STDOUT: match pattern Placeholder<x>
-// CHECK:STDOUT: from initializing expression with value T{}
+// CHECK:STDOUT: === match pattern `Placeholder<x>`
+// CHECK:STDOUT:     from initializing expression with value `T{}`
 // CHECK:STDOUT: <[] stack-pop:  StatementAction pos: 1 `var x: T = {}.(interface ImplicitAs(T = class T).Convert)();` results: [`T{}`]  (phase_execution.carbon:10)
 // CHECK:STDOUT: ->> step StatementAction pos: 1 `{var x: T = {}.(interface ImplicitAs(T = class T).Convert)();return 0;}` scope: [`x: T`: `lval<Allocation(1)>`] (phase_execution.carbon:12) --->
 // CHECK:STDOUT: *** statement at (phase_execution.carbon:12)