Ethereum Price Surge After Liquidity Grab, Eyes $5K Resistance

After a brief dip below the $3,350 support level, Ethereum has witnessed a significant rebound, fueled by a liquidity grab and reaching new highs. Data reveals that large Ethereum whales have been selling or distributing their holdings, leading to a decline in the number of holders holding 10,000 ETH or more. Despite this, the price action has shown a strong upward trend as it approaches the $4,950 resistance zone. This surge is being closely watched for potential profit-taking or further resistance.