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The growing bullish momentum suggests Ethereum could be gearing up for a major rally, possibly targeting $4,000. Will this recovery run lead to a new 52-week high as According to Lookonchain, after being idle for eight years, a prominent whale has come back to sell off a sizable amount of their Ethereum holdings. A whale that From a technical analysis perspective, Martinez has observed that Ethereum appears to be forming a right shoulder in a head-and-shoulders pattern, with a This move has drawn attention to the possibility that whales are capitalizing on the recent price increase, raising concerns over whether a sell-off could prevent Ethereum While many analysts were counting on the crypto to soar to touch less than the $4,000 mark, the crypto's momentum was suddenly blunted. Some data reveals that a Will Ethereum reach $4,000 again? New on-chain data suggests a potential surge, driven by whale accumulation and institutional investment. Find out more! Ethereum faces strong resistance at $3,700, delaying its anticipated rally to $4,000. Ethereum co-founder Jeffrey Wilcke sold 20,000 ETH, totaling $72.5M, fueling whale

Will This Whale Stop Ethereum From Reaching $4,000? On-Chain Data Analyzed

Will Ethereum reach $4,000 again? New on-chain data suggests a potential surge, driven by whale accumulation and institutional investment. Find out more! The growing bullish momentum suggests Ethereum could be gearing up for a major rally, possibly targeting $4,000. Will this recovery run lead to a new 52-week high as Ethereum aims for this key psychological level?

While many analysts were counting on the crypto to soar to touch less than the $4,000 mark, the crypto's momentum was suddenly blunted. Some data reveals that a Ethereum faces strong resistance at $3,700, delaying its anticipated rally to $4,000. The question now is: will a whale's activity derail this potential surge?

Whale Activity Sparks Concern: A $4,000 Ethereum in Jeopardy?

According to Lookonchain, after being idle for eight years, a prominent whale has come back to sell off a sizable amount of their Ethereum holdings. A whale that Ethereum co-founder Jeffrey Wilcke sold 20,000 ETH, totaling $72.5M, fueling whale watching more than ever.

This move has drawn attention to the possibility that whales are capitalizing on the recent price increase, raising concerns over whether a sell-off could prevent Ethereum from reaching $4,000. Could this single event stifle the bullish momentum and keep Ethereum below the anticipated target?

Technical Analysis: Head and Shoulders Pattern Emerging?

From a technical analysis perspective, Martinez has observed that Ethereum appears to be forming a right shoulder in a head-and-shoulders pattern, with a ... This potential bearish pattern further complicates the outlook for Ethereum, adding another layer of uncertainty to its quest for $4,000.

Can Ethereum Overcome Whale Sell-offs and Technical Resistance?

The path to $4,000 isn't guaranteed. While positive on-chain data hints at potential gains, whale activity and technical resistance pose significant challenges. Whether Ethereum can overcome these hurdles remains to be seen. Stay tuned for updates as we continue to monitor the market and analyze the factors influencing Ethereum's price trajectory.

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