Ethereum (ETH) has experienced a significant price breakout, breaking free from almost two weeks of consolidation below $3,524. It is now approaching the critical barrier of $3,721 with strong investor activity, indicating bullish momentum. The outflow of 89,000 ETH from exchanges signals increased accumulation as investors transfer their assets to long-term holdings. This accumulation aligns with the fear of missing out (FOMO) sentiment, suggesting that Ethereum holders are optimistic about its future growth and potential for new highs. The Chaikin Money Flow (CMF) indicator also indicates increased inflows and investor interest in Ethereum. Currently trading at $3,681, Ethereum needs to surpass the resistance at $3,721 to reach $4,000. On the other hand, failure to surpass $3,721 could push the price back to $3,524 and delay the altcoin's recovery.



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