The crypto market experienced a slight downtick as Bitcoin price fell from $108k resistance, resulting in bearish momentum for altcoins, including Ethereum. However, onchain data shows that long-term holders of Ethereum remain confident and are increasing their ETH positions. Despite struggles to surpass $4,000 and high selling pressure, the market is in the early stages of a potential major price rally for ETH. Long-term holders have been steadily accumulating ETH throughout the year, reflecting unwavering confidence. A break below $4k could lead to a 10% drop and potentially a major correction, but if the market remains bullish, ETH could renew its momentum and see parabolic growth.



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