ETH price still on track for $4K even as Bitcoin, altcoins sell-off

Key Points

1. Over 540,000 ETH have been accumulated by new whale wallets since July 9, signaling strong investor confidence.

2. ETH continues to trade above the $3,500 support level, maintaining its bullish structure.

3. A confirmed breakout above $3,750 could push ETH to $4,000, while losing $3,500 may invalidate the bullish setup.

4. ETH has a record 245,000 ETH in buy orders on perpetual futures books, mostly between $3,000 and $3,400, indicating potential short-term volatility.

5. Strategic corporations have nearly doubled their ETH holdings, rising to 2.3 million from 1.2 million in four weeks.