Small retail traders slashed their Ethereum holdings aggressively, with wallets holding 0.01 ETH or less offloading 1,791 ETH valued at $4.16 million over the past two days, per Santiment data. This dumping comes as ETH climbed +17% since March 29, with the crowd viewing it as a bull trap—yet this very profit-taking bolsters the odds of sustained bullish momentum, especially as further retail exits often precede major rallies in the crypto market. Traders eye this as a contrarian buy signal, monitoring holdings via Santiment for ETH price prediction insights amid broader crypto bullish signals and parallels to Bitcoin (BTC) trends.

From a technical confluence standpoint, Ethereum asserts its bullish structure on the 4-hour chart, trading at $2,330.14 while hugging the upper Bollinger Band resistance near $2,425.66, where volatility could cap short-term gains. The MACD flashes a golden cross at 35.89, underscoring strong upward momentum, but with RSI at 60.74 entering neutral territory, we're seeing confluence for a potential pullback to the EMA50 support at $2,235.53 before resuming the push—much like last quarter's consolidation that fueled a 20% breakout, aligning perfectly with retail dumping as fuel for institutional accumulation in this macro uptrend.