Ethereum has risen over 6% in the past 24 hours, breaking through the 3,800 USDT level, continuing towards the 4,000 dollar mark amidst significant market fluctuations. Meanwhile, the leading digital asset bitcoin (BTC) remains at the 95,000 dollar level.
Ethereum continues to show an upward trend throughout the day. Currently, the trading price of ethereum is 3,774 dollars, having increased over 6% in the past day. Its daily trading volume has exceeded 50 billion dollars, further enhancing bullish momentum and reflecting increased investor activity.
It has recovered above the key resistance level of 3,500 dollars, and ETH shows a bullish pattern, as indicated by the 50-day EMA breaking above the 200-day EMA. Strong buying interest and a clear breakthrough of 3,700 dollars pave the way for further rises to 4,000 dollars.
Ethereum shows an upward trend after breaking through the 3,800 dollar mark. When the price of ethereum reached 2,400 dollars, people said ethereum was dead. When the price of ethereum reached 3,800 dollars, everyone wanted a piece of the action.
The ethereum network is continuously growing, adding over 134,000 ETH addresses every day. Steady adoption highlights the growing interest and activity in blockchain.
If ethereum experiences a pullback, pay attention to the 3,300 dollar level.ResistanceThis is a potential buy opportunity. Our mid-term target remains at $6,000, and the long-term target is $10,000!
ETH etf supports development.
The surge in ethereum prices is driven by positive sentiment around the ethereum etf. Notably, on December 3, the net inflow into the ethereum etf reached $0.1326 billion, marking the third consecutive day of inflows for the ethereum etf.
Blackrock's ETHA had the highest inflow, reaching $65.3 million. Fidelity's FETH followed closely with an inflow of $73.7 million. However, Grayscale's ETHE experienced an outflow of $6.4 million, with the remaining funds having a net inflow of zero.
The golden cross is approaching!
Additionally, this week, ethereum prices will head toward a golden cross. A golden cross occurs when a short-term moving average (MA), such as the 50-day moving average, crosses above a long-term moving average, such as the 200-day moving average. This typically indicates that the related cryptos will enjoy a long-term upward trend.