Ethereum Holds $4,000 Support Ahead of Fed Meeting
Ethereum continues to defend the $4,000 level as traders brace for potential volatility surrounding the upcoming Federal Open Market Committee meeting, which could define near-term crypto momentum.
The second-largest cryptocurrency remains under pressure after briefly dipping to $3,926, yet resilient buying activity among major investors suggests accumulating conviction before a potential macro-driven rebound.
Analysts Anticipate Breakout Above Key Resistance
Following its strong Q3 rally, Ethereum has repeatedly struggled to break above the $4,200 resistance level, a zone traders now view as the trigger for renewed upside momentum.
Crypto strategist Daan Crypto Trades emphasized that reclaiming $4,100 decisively is crucial, warning that failure could send prices back toward $3,800, turning resistance into long-term overhead pressure for the market.
Historical Patterns Signal Final Euphoric Run
Market analysts including Crypto Yhodda believe Ethereum’s recent structure mirrors its 2021 pre-breakout phase, when the asset surged into an extended price discovery rally following consolidation.
He called the current setup “the last euphoric run,” noting Ethereum’s resilience despite broader volatility and forecasting that bulls may push the token toward the long-awaited $8,000 target level soon.
Technical Indicators Reinforce Bullish Outlook
According to chartist Crypto Jelle, Ethereum remains positioned within an 18-month bullish megaphone formation, having successfully broken out during its Q3 rally earlier this year.
He added that short-term shakeouts below support are normal in such structures, suggesting the pattern’s stability continues to imply strength and a steady foundation for a sustained advance.
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Whale Activity Intensifies Across Exchanges
On-chain data shows whales adding 218,470 ETH—worth over $135 million—in just one week, underscoring renewed institutional confidence in Ethereum’s long-term value proposition.
Santiment analytics revealed continuous whale accumulation, while Lookonchain identified two new addresses receiving nearly 34,000 ETH from FalconX, confirming deep-pocketed participants are re-entering accumulation phases despite market uncertainty.
BitMine Expands Treasury Amid Accumulation Phase
Blockchain data indicates BitMine, the largest Ethereum-based treasury firm, remains a leading buyer, now holding more than $14.2 billion in total assets across digital and equity holdings.
Its October report confirmed ownership of 3.3 million ETH, representing approximately 2.75% of the entire supply, bringing the company halfway to its goal of controlling 5% of Ethereum’s total circulation.
Path Forward: Analysts See $8,000 as Psychological Milestone
Despite near-term volatility, analysts remain confident Ethereum’s fundamentals and investor structure favor a renewed bull phase led by institutional accumulation and liquidity expansion.
If Ethereum reclaims $4,200 and sustains upward momentum, traders expect a “hated rally” toward $8,000, fueled by shifting macro dynamics, whale confidence, and growing market expectations for a dovish Federal Reserve stance.
