🔥 Ethereum Eyes $4,400 — Breakout or Exhaustion? 🔥

$ETH just pushed from the $2,400 zone up to test the crucial $4,400 resistance — a level that’s caused reversals before. Right now, it’s trading around $4,206, sitting at a key inflection point.

On-chain data paints a mixed picture:

📉 The all-exchange Exchange Supply Ratio (ESR) has been falling since 2022, signaling less selling pressure & stronger accumulation overall.

⚠️ But Binance-specific ESR is rising since early 2025, with inflows hinting at short-term selling readiness.

RSI is near 71, flirting with overbought territory, so profit-taking could kick in soon. Meanwhile, futures markets show high leverage, which can fuel big moves — both up and down.

Whales seem to be moving coins off exchanges (over $245M outflows recently), supporting accumulation, but some selling pressure remains.

🚨 Key liquidation zones between $4,300–$4,400 will be crucial. A clean breakout could ignite a rally toward $4,800+, while failure may drag ETH back to $4,000 support.

Bottom line: Ethereum’s long-term on-chain strength suggests bullish momentum, but traders should watch for volatility and potential pullbacks as these key levels play out.