Ethereum ($ETH ) bulls are back in charge as ETH reclaims the $3,800 level, signaling renewed momentum in the market. After consolidating near $3,500, ETH surged past the key resistance and triggered a cascade of short liquidations, wiping out over $150M in bearish bets within 24 hours . A bullish “golden cross” (the 50‑day moving average crossing above the 200‑day) adds technical weight to the breakout and suggests further upside potential .

Institutional demand is heating up: spot Ethereum ETFs have attracted billions in inflows recently, fueling confidence among long-term investors . On-chain data shows big wallets accumulating tens of thousands of ETH, while open interest in futures continues to climb . Analysts note rising dominance in the altcoin sector and bullish patterns like the “bull flag” formation .

For traders, holding above $3,800 paints a clear path toward psychological milestones at $4,000 and possibly the previous cycle high around $4,800. However, if this support fails, a short-term retracement to the $3,490–3,600 range could play out .

In summary:

$ETH reclaiming $3,800 isn’t just a number—it’s a signal that alt‑season might be in full swing. Keep an eye on volume and network activity to gauge sustainability.