#ETHReclaims3800 🚀 #ETHReclaims3800 — What’s Driving It?

🔹 Strong Rebound Above $3,800

ETH has decisively reclaimed the $3,800 level, briefly hitting around $3,810 on Bitstamp, signaling renewed bullish momentum after multiple failed attempts to breach this level .

🔹 Technical Factors: Third Time’s the Charm

Ethereum is forming what technical analysts call a Descending Broadening Wedge, a bullish pattern echoing ETH’s 2019–2020 setup. Historically, this led to a huge rally—from roughly $180 to $700 in under 6 months. Analysts expect a breakout past $3,800, though a 10–15% pullback may occur first .

🔹 Market Liquidity and Short Liquidation Risk

With the $3,800 level reclaimed, the market is now within range of the $4,000 threshold: a potential $979M in short positions are at risk of liquidation if ETH breaks above that level. Conversely, a drop below $3,800 could liquidate up to $917M in longs .

🔹 Institutional and Spot Volume Inflows

Ethereum’s spot trading volumes have recently surpassed Bitcoin’s for the first time in nearly a year. Institutional capital continues to pour in, with significant whale purchases and record ETF inflows—over $4B+ in the past 10 days, driving structural demand .