Ether’s price reaches $4,000 as traders anticipate further gains due to strong technicals and declining exchange balance. A top trader opens a new ETH long position, with the ETH/USD pair trading at $3,940. Inflation data expected at 3.1%, but momentum for Fed rate cuts remains strong. A smart trader with a 100% win rate increases their long position in Ethereum to 33,270 ETH, valued at $131.24 million. Another position in 80 BTC, worth $8.9 million, is also opened.

Bullish sentiment surrounds Ether as traders predict a breakout above $4,000. Mega whales are accumulating ETH at current prices, increasing the likelihood of a surge. Analysts believe ETH’s supply squeeze could trigger a significant price increase. Predictions point towards a climb to $4,250 resistance and then $4,750 demand zone. Long-term upside target for Ether is set at $10,000 as long as previous highs are maintained. Ethereum’s MVRV data and bull flag breakout signal a potential move towards $4,500 by the end of October.

Read more at Cointelegraph: ‘Smart’ Ether Trader Sees a Fresh Price Rebound With a 33K ETH Long