Ethereum: Is $4,000 Within Reach, or Was the Last 24 Hours a False Alarm?

• Ethereum’s 4% rise over the past 24 hours has given hope, bringing millions of addresses back into the green.
• As the market rebounds from a recent correction, can ETH reach $4,000, or is it still out of reach?

After months of patience and a 62% drop in post-election gains, Ethereum (ETH) HODLers finally have a reason to rejoice.

As Bitcoin hits a new all-time high, ETH surged, bringing 7.57 million addresses (those who bought up to $3,367) back into profit.

With the momentum building, could another 23.5 million addresses soon join the profit party? The stage is set: how far can Ethereum go?

High enough to break $4,000?

Trump’s spark is fueling a surge, with the crypto market cap up 3.22%, hitting a new all-time high. Just a 7% jump, and we’re looking at a market value of $4 billion.

Ethereum is not far behind, up over 4%, with the RSI indicating further potential gains.

But the real question is: will the bulls act on it? The ETH/BTC pair is falling again, with the MACD turning bearish.

It appears that investors, especially in the United States, are favoring Bitcoin for greater returns as Ethereum’s Coinbase Premium Index (CPI) remains in the red.

However, big HODLers are not backing down. Over the last three days, 289.9K ETH has been transferred to huge wallets.

Notably, the Trump family’s World Liberty Financial acquired over 15,000 ETH at $3,333 in the last 12 hours. Ethereum’s recent 24-hour rally is undoubtedly the result of significant accumulation.

With the intervention of traders in the futures market, Open Interest (OI) jumped 5%, surpassing $30 billion – a level not seen during the previous Trump pump.

However, long liquidations are increasing, with $3.82 million wiped out in just four hours.

Clearly, Ethereum’s price is far from stable, and once profit-taking kicks in, ETH could face a sharp decline.

So if the target is $4,000, “consistency” will be the real test – something to watch closely in the coming days.

The rise of Ethereum: will it hold?

Ethereum price action has been all over the place. Despite the intervention of buyers during the “dips”, the breakout that everyone expects has not yet occurred.

With 43.33% of ETH controlled by whales, it appears to be trapped in a classic cycle of manipulation.

So it wouldn’t be surprising if this recent buildup ends up being just another false start.

In this volatile market, the patience of HODLers is truly tested. The 5% increase brought some relief, but for 23.5 million HODLers, the wait for profit could continue a little longer.

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Read Ethereum (ETH) Price Forecast 2025-2026

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As Bitcoin reaches new highs, ETH could follow suit, potentially aiming for $3,600 soon, or even repeat the post-election rally to reach $4,000. But maintain this level? It’s still a long way off.

More consistent green candlesticks are what Ethereum really needs to break free from this holding pattern.