🔥 ETH Whales Are Stacking — But Can Bulls Keep Control?
Despite ETH flashing overbought signals recently, there’s no panic selling — a bullish sign that big players still believe in the uptrend. And here’s proof:
🦈 SharpLink Gaming just became the largest public holder of ETH, overtaking BitMine by boosting its stash to 360,807 ETH. BitMine trails with 300,657 ETH — still massive.
💰 Corporate accumulation at this scale isn't just bullish — it’s a power move. But short-term traders had other ideas this week…
📉 ETH dropped from $3,860, slicing below the $3,745 support — classic profit-taking behavior. Now, eyes are on the 38.2% Fibonacci retracement at $3,494. If bulls hold this line? 🚀 Expect a potential push back towards $4,094.
🔻 But if $3,494 breaks…
Next stops:
$3,381 (50% Fib level)
$3,234 (20-day EMA)
And possibly a bearish slide down to $2,904
📊 On the 4H chart:
20-EMA is flat
RSI is below 50 = tug of war between bulls & bears
A breakout above $3,860 flips the switch back to bullish momentum
A drop below 50-SMA could drag ETH down to $3,361 and beyond
🔎 Key Levels to Watch:
Resistance: $3,860 → $4,094
Support: $3,494 → $3,381 → $3,234
Big wallets are growing fatter with ETH, but short-term signals show hesitation. Bulls must defend key Fib levels to avoid a deeper dip. Keep your eyes on the charts — this next move could set the tone for ETH’s August run.
Not financial advice. Do your own research before making any investment decisions.
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