The second-largest cryptocurrency, Ethereum (ETH), is nearing its all-time high of $4,000, despite earlier skepticism about its performance in this bull run. Ethereum whales, or major holders, have been accumulating aggressively since late November, indicating growing confidence and potentially signaling an impending breakout. However, there are concerns about a potential bull trap if these whales offload their ETH for other assets. Holding above critical levels like $3,800 and breaking key resistances will be crucial for Ethereum's continued upward momentum. If it fails to breach the $4,000 mark, a retracement towards $3,500 could be expected, but recent market dynamics suggest a potential significant move upward for Ethereum.



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