If Ethereum Can’t Break the $4,100 Resistance, How Deep Will This Correction Go?
Main Idea
Ethereum's ability to break the $4,100 resistance level is crucial for reaching new all-time highs, with current price action and on-chain data indicating mixed signals from whales and institutional investors.
Key Points
1. The $4,100 resistance level is a critical barrier for Ethereum; failure to break it could lead to a 15% dip.
2. Ethereum's price is currently around $3,600, with limited buying interest and repeated rejections below $4,100.
3. On-chain data shows whales have increased their ETH holdings by 1.8% over the last 30 days, while short-term traders may be taking profits.
4. Ethereum spot ETFs have seen 17 consecutive days of inflows totaling over $5 billion, with institutional buyers like World Liberty Financial and SharpLink Gaming scaling their ETH holdings.
5. Analyst Michaël van de Poppe highlights that Ethereum's inability to reclaim $4,100 has prevented sustained bullish momentum.
Description
Ethereum’s price is in a correction, trading near $3,500 after failing to break resistance The key “make-or-break” resistance level for Ethereum remains at $4,100, analysts say On-chain data shows whales and retail investors were accumulating ETH during the recent dip In a new X post, crypto analyst Michaël van de Poppe explains the importance of the $4,100 resistance level for Ethereum, stating that ETH failed to reach the target resistance zone , leading to a roughly 15% dip. He notes that the...
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