ETH holds strong amid market sell-off, eyes return to $4K

Ethereum (ETH) continues to show resilience despite a broader market pullback, maintaining support above $3,500 while Bitcoin has dropped to $115,000. Technical indicators suggest a bullish structure remains intact, with a possible inverse head-and-shoulders pattern forming. A breakout above $3,750 could target $4,000. Since July 9, new whale wallets have accumulated over 540,000 ETH (~$2B), and institutional holdings have nearly doubled to 2.3 million ETH. Bit Mine now leads with 566,776 ETH, worth over $2B. However, large buy orders between $3,000–$3,400 raise the risk of a short-term liquidity sweep before further gains. According to Cointelegraph, if ETH loses $3,500, price could revisit $3,100–$3,300 before rebounding.