In the last 24 hours, Ethereum's price rose by 2%, bouncing off the $4,000 support level despite broader market downtrends.
Market Indicators and Reaction
This week, Ethereum's price corrected over 9%, leading traders to worry about a potential drop below $4,000. However, in the last 24 hours, the price bounced back by 2%, surprising the market. Many traders are now discussing targets above $5,000.
Activity of Large Holders
Wallets holding between 1,000 and 100,000 ETH—typically large holders or institutional investors—have resumed purchasing. These large wallets increased their activity as prices dropped, signaling that they expect growth. Analyst Ali Martinez highlighted this buying trend from large holders.
Key Price Levels and Forecasts
The $4,066 level remains a key support for Ethereum, as the price has not dropped below this mark during the recent correction. To reach the higher target of $5,400, it is essential to maintain levels above $4,000, which positively affects future prospects.
Overall, the price structure for Ethereum appears strong, with key levels such as $4,122 supporting a positive market view. Given the low reserves on centralized exchanges, the risk of selling is also decreasing.
