Ethereum Nears $4,000 Resistance Amid Strong Accumulation but Faces Possible Short-Term Correction

Key Points

1. Ethereum's price surged to $3,745, reflecting a 27% increase, with over 317,000 ETH withdrawn from exchanges since early July, reducing sell-side pressure.

2. The $4,000 resistance level is a critical psychological barrier; a breakout could signal further bullish momentum, while failure may lead to a retreat to $3,530 support.

3. Ethereum's Network Value to Transactions (NUPL) ratio is nearing the 'Belief-Denial' zone, historically indicating potential turning points in price trends.

4. Investor confidence is strong, but profit-taking near the $4,000 resistance could trigger a temporary reversal in the bullish trend.

5. A decisive breakout above $4,000 would confirm sustained upward momentum, while failure to hold support levels may deepen corrections.