Ethereum’s Rally to $8,000 Incoming, Analyst Says Bearish Noise Will Only Fuel the Surge

Ethereum briefly fell below $3,840 last week as part of a broad slump across the crypto ￰0￱ asset has since bounced back and is trading near $4,110 after rising by 2.43% over the past ￰1￱ say shorting Ethereum now is reckless. “Only Fools Short” ETH In his latest post on X, analyst ￰2￱ Street said that Ethereum is currently in an extremely bullish setup, and added that recent bearish noise could, in fact, help in fueling a major ￰3￱ to his analysis, ETH is set to target $7,000-$8,000 in ￰4￱ explained that this pullback is the first meaningful correction since the $1,500 lows in April, with a healthy 20% decline serving as a necessary reset before further ￰5￱ Street also pointed out that tens of billions in liquidations occurred above previous bull market all-time highs, and believes that shorting Ethereum in this environment would be a mistake.

Meanwhile, crypto analyst Degen Hardy said that bears are on precarious ground if ETH surges to $4,200. According to his analysis, more than $40 billion in liquidations sit just above current levels, which is primed to be triggered in a sharp ￰6￱ highlighted the market’s tension and questioned whether the cryptocurrency will first test lower support levels or surge straight through ￰7￱ implication is clear: shorts face significant risk, and any decisive upward move could spark cascading ￰8￱ a pattern sets the stage for potentially explosive ￰9￱ to Lookonchain data, whale activity in Ethereum remained strong despite recent market ￰10￱ week, 16 wallets collectively received 431,018 ETH, which is approximately worth $1.73 billion, from major platforms including Kraken, Galaxy Digital, BitGo, FalconX, and ￰11￱ recently, a fresh wallet moved 3,884 ETH, valued at around $15.57 million, from ￰12￱ whale wallet, which sold 1,857 ETH ($4.18 million) five months ago at $2,251, repurchased 1,501 ETH ($6.17 million) on Monday at $4,114, which indicated a willingness to buy even at higher price levels.

Ethereum’s No-Sell Wallets Swell As reported by CryptoPotato earlier, Ethereum accumulator addresses saw a historic inflow of nearly 400,000 ETH on September 24th, following a record 1.2 million ETH accumulation less than a week earlier, according to ￰13￱ no-sell wallets have made multiple purchases without any ￰14￱ moves, hence, point to strong long-term holder activity, potentially from institutional players or ETH ETF-linked ￰15￱ inflows occurred amid a steep market sell-off driven by macroeconomic concerns.