Ethereum's $4K Resistance: Will It Soar to $6K or Just Flop Like a Fish?

Mega whales, each holding over 10K ETH, joined the network as WLFi spent $10M on ETH. 🐋💰
Once Ethereum closes above $4K, it could reach $5K and then $6K within 6–8 weeks. 🚀

In the past 24 hours, as if they were auditioning for a reality show, 13 mega whales, each clutching over 10,000 ETH, decided to bolster the Ethereum [ETH] network. Talk about a whale of a time! 🐳

Meanwhile, the World Liberty Fund, in a move that screams “I love crypto,” purchased 3,247 ETH worth a staggering $10 million, bringing their total holdings to a jaw-dropping $189 million. Accumulation trend? More like accumulation frenzy! 💸

This shopping spree of acquisitions is like a vote of confidence in ETH’s value proposition, even as it struggles to keep its head above water. 🏊‍♂️

With more large-scale holders entering the fray, the price of ETH might just stabilize, reducing market volatility and increasing the asset’s scarcity. It’s like a game of musical chairs, but with fewer chairs and more money. 💵

Currently, ETH is doing its best impression of a sloth, hovering around $3,190.27, which is a slight increase of 3.29% in a day. Slow and steady wins the race, right? 🦥

In the World Liberty Fund’s treasure chest, other assets like WBTC saw a tiny uptick of 0.32%, while TRON (TRX) decided to party with a 1.6% appreciation. On the flip side, AAVE took a little nap, dipping by 0.94% and resting at $301.89. 😴

WLFi’s participation not only influences ETH’s market but could also hint at an emerging floor. If these accumulation trends continue, we might just have a new floor to dance on! 💃

This strategic holding pattern could act as a buffer against further declines, suggesting a bullish outlook in crypto if the trend persists. Fingers crossed! 🤞

Open Interest Rising

Ethereum’s Open Interest has been soaring since August 2024, like a hot air balloon at a festival, closely tracking with Ethereum’s price action in the long-term. 🎈

By the end of 2024, both metrics surged, with Open Interest peaking near 21 billion by January 2025. That’s a lot of interest! 📈

During this period, Ethereum’s price showed a volatile yet rising trend, moving from approximately $2,500 in early 2024 to highs around $4,000 by year’s end. It’s like watching a rollercoaster, but with more money involved! 🎢

The recent rise in Open Interest suggests that despite the current price decline, there’s keen trading interest that could propel Ethereum’s price upwards once again. It’s like a phoenix rising from the ashes, but with more spreadsheets. 🔥

Given the historical correlation, the increasing Open Interest could lead to a rally if Ethereum manages to stabilize and rebound from its press time levels of around $3,350. Let’s hope it doesn’t trip over its own feet! 🤞

ETH might see a rapid climb back to or even beyond previous highs, potentially reaching new thresholds. The sky’s the limit! 🌌

ETH Repeating Q4 of 2020

Ethereum today mirrors the scene back in Q4 2020. Back then, despite Bitcoin’s rise and the buzz around DeFi, Ethereum struggled to break resistance levels, much like a toddler trying to climb a big slide. 🎢

Every pump of Ethereum was countered by significant resistance at $400, just as we now see with the $4,000 level. It’s like déjà vu, but with more zeros! 🔄

Once ETH successfully overcame the $

2025-01-29 07:06

Ethereum’s $4K Resistance: Will It Soar to $6K or Just Flop Like a Fish?

Open Interest Rising

ETH Repeating Q4 of 2020

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