The price of Ethereum is currently testing resistance near $4,000, with a potential target of $4,200 if it breaks above this level. On the other hand, a breakdown below $3,800 may result in a retreat to $3,600. The RSI and moving averages suggest strong bullish momentum and an ongoing uptrend for Ethereum.

In other news, a whale investor recently sold their Ethereum stash, earning a 96% return of $146 million. This reflects the rising demand and profitability of Ethereum in 2024. Additionally, Ethereum-based ETFs have been experiencing record-breaking inflows, with $1.3 billion flowing into these funds in just two weeks. Fidelity's FETH and BlackRock's ETHA are among the leading funds attracting significant inflows.

The surge in ETF inflows coincided with Ethereum's price reaching over $4,000, marking a 10% rise in the past week and the highest level since March 2024. December has seen robust trading volumes, and the NFT market has also experienced a revival with double-digit percentage gains for top projects.



Other News from Today