š„$ETH ās Bleeding-But Is This the #Dip Before the $5K Explosion? š£
ETHās chilling around $3,934, barely up today after sliding from $4,110 highs. The dip hit $3,710 earlier but bounced fast. RSIās down at 39, which screams oversold the āwhales are shoppingā zone. EMAs are stacked tight, showing a boring short-term but sneaky bullish setup. Itās like ETHās holding its breath before something big.
š Whales Arenāt Sleeping
Despite all the ETF outflow noise, on-chain data says whales are loading up. Institutions just poured $1.48B into ETH ETFs recently, and supplyās chilling near 9-year lows. The networkās buzzing with activity again cheaper fees, fresh upgrades (hello, Fusaka), and DeFi heating up. Yeah, itās not sexy right now, but the fundamentals are screaming strength.
š The Pain Before the Pump?
MACDās bearish, sure but this kind of setup usually comes before a reversal. ETHās coiling tight between $3,800 support and $4,200 resistance. Break above that ceiling, and weāre flying toward $4,500-$5,000 fast. But if $3,800 failsā¦ say hello to $3,500 or worse.
š The Big Picture: Q4 Could Be Wild
Analysts are calling for $5K-$7.5K ETH by year-end if the market flips risk-on again. Some even whisper about $10K yeah, the number everyone laughs at until it happens. But until then, weāre stuck in the āboring but dangerousā zone.
š§ Buy the Fear or Wait for Blood?
ETHās sitting at the edge of something big could be a launchpad, could be a trap. Depends if youāve got diamond hands or paper nerves.
What do you think about this? š
