Ethereum is approaching the $4,500 resistance level, driven by significant institutional accumulation. Bitmine Immersion has acquired over 43,000 ETH in the past 24 hours, bringing its holdings close to 2% of the total Ethereum supply. This accumulation has contributed to a historic drop in exchange balances, indicating reduced sell pressure and increased long-term holding. Currently trading at approximately $4,424.01, Ethereum has gained 1.12% in the last 24 hours. Analysts suggest that if Ethereum maintains its position above $4,200, it could potentially reach targets of $4,800 or even $5,600. The negative exchange balance, a first for Ethereum, signals net outflows across platforms, often a precursor to price expansions.