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. This mass exit follows a sharp +17% surge in ETH since March 29, which the crowd views as a classic bull trap, ironically fueling stronger bullish momentum as weaker hands capitulate amid fears of a crypto market crash.

On the 4-hour chart, Ethereum trades at $2330.14 in a clear bullish structure, comfortably above the EMA50 at $2235.53 acting as immediate support and the EMA200 at $2136.77 reinforcing longer-term floors. MACD screams bullish with a 35.89 reading post-golden cross, while RSI at 60.74 stays neutral, avoiding overbought territory that could trigger pullbacks. Price dances inside volatility bands, eyeing the upper resistance at $2425.66 as the next exhaustion point—confluence here suggests bulls push for that level before any retrace to EMA50, especially if Bitcoin (BTC) maintains its hype-driven rally in this Ethereum retail selling wave.