Ethereum to $4K? – THESE ETH metrics hold the answer!

Key Points

1. Ethereum broke the key resistance level at $2,850, signaling a bullish trend and potential for further gains.

2. Sharplink (SBET) purchased 21,487 ETH worth $64.26 million, while other traders shorted 48,458 ETH worth $143.37 million, indicating market divergence.

3. Ethereum saw $206 million in net outflows from exchanges, suggesting whale accumulation and reduced sell-side pressure.

4. Technical analysis indicates ETH is trading above the 200-day EMA, projecting a possible 37% rally to $4,000 if support holds.

5. Despite bullish signals, overextended price gains and mixed market activity add ambiguity to ETH's near-term price movement.