Ethereum Price Forecast: Investors commence accumulating as ETH chases $4,100 barrier
Over 80K ETH were withdrawn from exchanges last week.
ETH market mood is dismal despite its price rise.
Ethereum may surge over $4,093 to test its all-time high after creating an inverted H&S formation on the weekly chart.
After investors increased accumulation last week, Ethereum (ETH) briefly traded over $3,700 on Monday. ETH might confirm an inverted head and shoulders (H&S) pattern by rising over $4,093 barrier if accumulation continues.
Ethereum investors accumulate amid negative sentiment.
Per CryptoQuant, Ethereum investors moved over 80K ETH worth approximately $300 million from exchanges to private wallets last week in expectation of a bullish January like the prior two. This week, investors return to the market in full force, favoring accumulation.
Most accumulating activity occurred from 1K–10K ETH holders. However, whales with 10K–100K ETH dropped some.
ETH's Weighted Sentiment is negative, indicating that most social mentions of the leading cryptocurrency are pessimistic despite the accumulation. ETH may surge in the next days as prices move opposing retail sentiment, according to crypto analytics company Santiment.
ETH's price and the crypto market in 2025 will also be affected by Friday's US employment data.
Last week, Coinglass data showed $38.1 million in Ethereum ETF outflows.
ETH might hit $4,093 if the inverted H&S pattern maintains.
Ethereum rose 2% following $39.24 million in futures liquidations in 24 hours. According to Coinglass, long bets were liquidated for $10.79 million and short ones for $28.45 million.
Ethereum's weekly chart shows an inverted H&S pattern after finding support at the 50-day SMA during a December decline.
After surging over $3,550 last week, ETH might breach the inverted H&S pattern's $4,093 neckline resistance in the coming days. A breach over current March barrier might push ETH beyond its all-time high of $4,868.
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