Ethereum Nears $3,800 as Market Shows Mixed Signals Amid Cryptocurrency Price Movements

The latest analysis indicates that Ethereum continues to approach the $3,800 mark, driven by low supply on exchanges and substantial open interest in USD, without extreme leverage—highlighting a potential for bullish movement if resistance at $3,896 is breached, targeting $4,402. Conversely, Bitcoin is experiencing a decline with a drop to approximately $122,054, amid profit-taking and reduced institutional interest, compounded by outflows from Bitcoin ETFs and weak network activity, suggesting a heightened risk of correction. Solana shows signs of a price reversal, with a recent peak at five months high, but could face resistance or support around $188/$176; maintaining above $200 might push the price to $221, yet overbought conditions hint at a correction. PENGU, despite investor skepticism, hits a new all-time high of $0.046 with increased demand and open interest, though sentiment remains mixed. An upcoming investment promotion offers cashback opportunities for TKO holders, incentivizing participation. Overall, the market shows mixed signals with potential for both upward movement and correction, depending on key resistance levels and network activity.