Ethereum's native token, Ether, is currently the only cryptocurrency in the top 10 by market capitalization showing a positive trend over the past 30 days. Despite a decline in crowd sentiment, onchain data reveals significant accumulation by Ethereum addresses, with 330,000 ETH added since January 7, valued at over $1.08 billion. Historical data indicates that such large accumulations previously resulted in a subsequent 66% price increase. Traders are now observing a potential bullish reversal indicated by the formation of an inverse head-and-shoulders pattern and ascending triangles on the weekly chart. Analysts note that for Ether to reach $5,000, it must first flip the crucial resistance at $4,100 into support. Since Ethereum's performance has not met expectations, overall demand has decreased significantly compared to previous years. Thus, while the accumulation by whales is noteworthy, retail interest remains a critical aspect to monitor as Ether navigates these market conditions.

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