Ethereum’s strength on the price charts has been evident lately after the altcoin climbed by over 12.73% since the start of the year. That’s not all either as institutional capital flowed in and strong technical indicators fueled optimism too.
Moves by influential traders sparked attention as well as ETH tested key resistance levels. Hence, the question is – Would it break through or face a pullback?
James Wynn closes all his $ETH, $PEPE longs
James Wynn, a well-known whale in the crypto market, sparked mixed reactions on crypto Twitter after closing all his Ethereum [ETH] and PEPE long positions. He also withdrew his funds from the Hyperliquid platform.
Traders were left questioning whether Wynn’s exit was a sign of an impending market pullback or just a personal profit-taking move.
Many traders were concerned, especially given Wynn’s history of large trades that have often resulted in losses. This move also left some wondering if it was time to follow his exit and take profits or continue riding Ethereum’s bullish wave.
Taker Buy Dominance continues its uptrend
Since early 2026, the Taker Buy Dominance ratio has been on the rise – A signal of increasing buying pressure in the Ethereum market. This metric reflects the strength of market demand, with buyers outpacing sellers.
The hike in Taker Buy Dominance indicated that market sentiment has been largely bullish lately.
As the ratio climbed, Ethereum saw more buying than selling, supporting the price action. In fact, this bullish sentiment suggested that the market might be focused on further price appreciation in the short term.
Will Ethereum break $3,450?
At the time of writing, Ethereum’s price was holding steady at $3,333, after breaking through $3,300. If it breaks through $3,450, a rally to $4,000 might be possible.
The MACD looked strong, with the RSI having a reading of 63.19 and signaling caution. For the bullish trend to continue, the price has to stay above the $3,200–$3,400 range.
Given that Ethereum was testing $3,450, if it doesn’t break that level, a pullback to lower support levels would be possible.
To put it simply, traders should wait to see if a breakout or a reversal happens.
Final Thoughts
- James Wynn’s exit did not alter Ethereum’s bullish sentiment, with the market maintaining a positive outlook.
- Ethereum’s price remains at a crucial juncture, with a breakout above $3,450 potentially setting the stage for further gains.
