Ethereum Hits 3.7M $ETH as $4,571 Target Looms Amid Trump-Zelensky Talks

Key Insights:

• Ethereum’s 3.7M $ETH reserve boosts bullish sentiment with rising institutional interest.
• Ethereum tests critical $4,200 support, with $4,000 looming as next key level.
• Key events this week could shape Ethereum’s price action, including Trump-Zelensky talks and FOMC minutes.

Ethereum (ETH) is currently experiencing significant price action, with institutional investors locking up $3.7 million $ETH. This surge in Ethereum’s Strategic Reserve is causing market watchers to monitor its price movements closely. The increase in supply being locked away, paired with rising demand, has led analysts to be bullish on the cryptocurrency’s potential.

Ethereum’s Strategic Reserve and Market Movement

According to Merlijn The Trader, the Ethereum Strategic Reserve has hit 3.7M ETH, worth $16.5B, showing increased institutional interest in Ethereum. As Merlijn mentioned, “Supply is draining, and demand is rising,” highlighting the bullish sentiment surrounding Ethereum. 

As more institutions and treasuries participate in Ethereum’s ecosystem, the market outlook remains positive. Ethereum’s price is navigating critical levels, with traders observing the $4,240–$4,190 support zone.

If Ethereum maintains its position above these levels, it could set the stage for a move toward its next target of $4,571. Ethereum’s price fluctuates, with the market volatility influenced by key global events.

Ethereum’s Support Levels and Resistance

However, Ethereum’s price is currently trying to hold the $4,200 support. Crypto analyst Ted Pillows noted that if the price falls, $4,000 will be the next level. Traders carefully monitor the asset’s behavior at the $4,200 level to assess the possibility of a further decline to $4,000 or whether it will hold steady.

Ethereum’s ability to maintain its support above $4,200 is crucial in determining whether it will rally to new highs or face a downward correction. Investors are watching closely for any signs of strength or weakness in the market, as these events unfold.

The coming week could prove pivotal in setting the tone for Ethereum’s price trajectory. As of press time, Ethereum was trading at $4,252.06, showing a slight decrease of 6.54% over the last 24 hours.

Critical Levels and Upcoming Events

Ethereum is currently battling to maintain its position above critical support levels. According to Dariusz Kowalczyk, for Ethereum to continue its upward trend, it must break through the resistance at $4,550–$4,571. Ethereum’s ability to break above resistance in the coming days could lead to a new ATH, but much depends on the resolution of global events and market conditions. 

Ethereum is testing support levels near $4,240–$4,190. The direction of the market will depend on several events, including the meeting between Trump and Zelensky, the FOMC minutes, U.S. jobless claims, and Powell’s speech. These events could shake both crypto and macro markets.

As Dariusz Kowalczyk stated, Key events this week could shake both Crypto & Macro. These events, coupled with Ethereum’s current price levels, are expected to drive price action in the short term.