Ethereum Price Maintains $4K Target Despite $2B Decline in Open Interest

Ethereums resilient spot price action, despite massive deleveraging on Wednesday appears driven by a trident of bullish factors.

First, the Ethereum ecosystem celebrated its 10-year anniversary, with top crypto stakeholders and developers sharing commemorative messages and milestones on Tuesday, drawing global attention and boosting market sen

Second, the US SEC has approved in-kind redemptions for both Bitcoin

and Ethereum ETFs. This regulatory clarity is critical, as it opens the door for more efficient capital inflows and institutional participation.

Third, institutional demand for ETH is accelerating. Bloomberg ETF analyst Nate Geraci reported this week that the BlackRock iShares Ethereum ETF now holds over 3 million ETH.

iShares Ethereum ETF now holds over 3 million ether…

Just hit 2mil back on July 12th.

This means that Blackrock alone now holds 2.5% of ETH‘s total 120 million circulating supply, affirming Standard Chartered analysts’ recent projection that ETH ETFs could eventually capture up to 10% of total supply.

Evidently, these three catalysts played key roles in anchoring Ethereum price firmly above $3,800 at press time, even despite broader market consolidation which saw the likes of

and

take significant haircuts intraday.

ETH Price Prediction: Can Bulls Break Past $4,158 Resistance？

Ethereum currently trades at $3,802, consolidating just below the upper Bollinger Band at $4,158, which marks a critical resistance level. The Bollinger Bands have expanded, signaling strong volatility, while the midline support rests near $3,518.

The RSI stands at 75.48, flirting with overbought territory but still below last weeks high of 81.04, suggesting room for a breakout before a full reset.

Ethereum Price Prediction | Source: TradingView

If bulls push ETH above $4,158, the next long-term target could be around $4,500, last seen during the 2021 bull cycle. On the downside, failure to hold the $3,750 zone would open downside risk toward $3,520 support, aligning with the 20-day moving average.

Best Wallet In Demand as Ethereum Traders Move to Secure Profits

As Ethereum eyes a breakout above the $4,000 milestone price level, savvy traders are securing profits in non-custodial wallets, drawing attention to Best Wallets ongoing token presale.

Best Wallet Presale

The $BEST Token powers the Best wallet ecosystem and aims to disrupt the $11 billion non-custodial wallet market. With over $14.3 million raised, $BEST token appears poised for major gains as the ongoing ETH rally draws in new market participants. Visit the official Best Wallet website to enter the presale before the next price update.