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ETH is testing the critical resistance level at $3,920, a level that has rejected the altcoin five times in the past. However, with bullish momentum building, will the sixth time be the charm?
Key Statistics:
- Resistance level: $3,920
- Flag pattern: Potential for breakout and new all-time high
- Exchange inflows: Increasing since early December, signaling heightened investor interest
- Whale activity: Large transactions surged by 21% in the last 24 hours
Market Sentiment:
- CryptoQuant data reveals increasing exchange inflows, signaling heightened investor interest
- ETH whales are making their presence felt, with large transactions surging by 21% in the last 24 hours
- Liquidation heatmap sparks bullish signal, aligning with the technical structure
Outlook:
With a bullish flag pattern, increasing exchange inflows, and surging whale activity, Ethereum seems to be gearing up for a potential breakout. If ETH manages to overcome the $3,920 resistance, it could make its way towards a new all-time high. 1 reply
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