Ethereum (ETH) has seen a 48.19% increase in price in 2024, although it has not performed as well as Bitcoin, which has gained 123% this year. The recent upward trend of ETH appears to be losing momentum, indicated by the weakening trend strength shown by the Average Directional Index (ADX). However, there is still buying pressure outweighing selling activity, although with less intensity than before. The number of whales holding at least 1,000 ETH has reached its highest level since September, suggesting growing confidence among major investors. This accumulation by large holders could support price stability or fuel upward momentum. The key resistance level for ETH is at $3,523, and if this is broken, the price could reach $3,763 and potentially test levels around $4,100. On the other hand, if ETH fails to break the resistance, it may face a pullback to test support at $3,256, and if that level does not hold, the price could drop further to $3,096.



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