Analysis: Bullish signals and whale movements indicate that ETH is moving towards $4000
ChainCatcher message, Ethereum's price has risen by 7.5% over the past week, with the bullish technical indicator known as the Golden Cross and the current RSI (Relative Strength Index) of 63.6 indicating potential further gains. However, the market is at a critical moment, and support and resistance levels will determine its future direction.After a brief decline in early January, whale activity has rebounded. The number of wallets holding at least 1,000 ETH has increased to 5,615, indicating a recovery in confidence among large investors. If this trend continues, such accumulation could further drive prices up. The RSI has recently pulled back from overbought levels, reflecting a neutral to bullish market sentiment. If the RSI rises towards 70, it may reignite upward momentum; however, if it falls below 50, it could indicate weakening market strength.The Golden Cross formed earlier this month supports a bullish outlook, with the next key resistance level at $3,827. If this level is broken, it could pave the way for a move towards $4,000; however, to avoid a downturn, maintaining the support level at $3,543 will be crucial.