Ethereum: Is $4K within reach, or were the last 24 hours a false alarm?

• Ethereum’s 4% surge in the past 24 hours has brought renewed hope, pulling millions of addresses back into the green.
• With the market bouncing back from a recent correction, can ETH make a run for $4K, or is it still out of reach?

After months of patience and a 62% dip in post-election gains, Ethereum [ETH] HODLers finally have a reason to celebrate.

With Bitcoin hitting a new all-time high, ETH has surged, bringing 7.57 million addresses—those who bought at up to $3,367—back into profit.

With momentum building, could another 23.5 million addresses soon join the profit party? The stage is set – how high can Ethereum go?

High enough to break $4K?

The Trump spark is fueling a surge, with the crypto market cap up 3.22%, hitting a new all-time high. Just a 7% jump, and we’re looking at $4 billion in market value.

Ethereum isn’t far behind, up over 4%, with the RSI pointing to more potential gains.

But the real question is: will bulls act on this? The ETH/BTC pair is down again, with the MACD turning bearish.

It looks like investors, particularly in the U.S. are favoring Bitcoin for bigger returns, as Ethereum’s Coinbase Premium Index (CPI) stays in the red.

However, large HODLers aren’t backing down. In the past three days, 289.9K ETH have been pulled off exchanges into massive wallets.

Notably, the Trump family’s World Liberty Financial has acquired over 15K ETH at $3,333 in the last 12 hours. Ethereum’s recent 24-hour rally is no doubt a result of major accumulation.

Source: IntoTheBlock

With traders in the Futures market jumping in, Open Interest (OI) has surged 5%, breaking $30 billion – a level not even seen during the previous Trump pump.

Yet, long liquidations are rising, with $3.82 million wiped out in just four hours. 

Clearly, Ethereum’s price is far from stable, and once profit-taking kicks in, ETH could face a sharp downturn.

So, if $4K is the target, “consistency” will be the real test – something to keep a close eye on in the coming days.

Ethereum’s surge: Will it hold?

Ethereum’s price action has been all over the place. Despite buyers stepping in during “dips”, the breakout everyone’s waiting for hasn’t happened yet.

With 43.33% of ETH controlled by whales, it looks like it’s trapped in a classic cycle of manipulation.

So, it wouldn’t be shocking if this recent accumulation ends up being just another false start.

In this volatile market, HODLers’ patience is truly being tested. The 5% hike has provided some relief, but for 23.5 million HODLers, the wait for profit might continue a bit longer.

Source: IntoTheBlock

Read Ethereum’s [ETH] Price Prediction 2025–2026

With Bitcoin hitting new highs, ETH could follow suit, potentially targeting $3,600 soon, or even repeating the post-election rally to reach $4K. But holding that level? That’s still a long way off. 

More consistent green candlesticks are what Ethereum really needs to break free from this holding pattern.