#ETHBreaks4000 Ethereum (ETH) has indeed broken the $4,000 barrier, reaching an intraday high of $4,237 recently.
This surge is driven by several factors :
Institutional Demand :- Ethereum Exchange-Traded Funds (ETFs) have attracted significant inflows, with BlackRock's ETHA ETF pulling in $727 million in a single day. Corporate treasuries are also accumulating ETH, with companies like BitMine Immersion and SharpLink Gaming acquiring nearly 2 million ETH since June.
Technical Breakout :- Ethereum has broken above a multi-year ascending triangle, projecting a long-term target in the $6,000–$6,200 range if momentum sustains. The current resistance zone is around $4,350–$4,500, and a decisive weekly close above $4,820 could unleash a rapid rally toward $5,500.
Whale Accumulation :- Whales have been accumulating ETH, with a notable $40.5 million over-the-counter purchase of 10,400 ETH. On-chain data shows whales leveraging DeFi platforms like Aave to accumulate at the $4,000 level.
