Is Ethereum Price on Track for $4,000 Soon?
Justin Sun Deposits $60.8M ETH Amid Ethereum’s Price Rally
Hey There!
Ethereum is back in the spotlight as its price shows remarkable strength, breaking critical resistance levels. Supported by significant ETF inflows and strategic market moves, ETH is outperforming Bitcoin, setting the stage for an exciting rally ahead.
Ethereum Price Today: Breaking Key Resistance
Ethereum price today has climbed above $3,770, gaining momentum from strong support at $3,670. After forming a stable base, Ether surged past $3,780 and is now trading above the 100-hour Simple Moving Average.
Currently, the Ether price faces hurdles at $3,890, close to the 76.4% Fibonacci retracement level of the previous decline from $3,956 to $3,680. Key resistance levels are at $3,950 and $3,980. If Ethereum breaks these barriers, it could head toward the $4,000 mark or even higher.
Can ETH Reach New All-Time High
Bullish momentum could drive ETH toward $4,050 or even $4,120, bringing it closer to an ETH all-time high. However, if Ethereum fails to clear the $3,890 resistance, a pullback might push the price down to $3,775 or $3,720.
Also Read SEI Price Prediction 2024, 2025 - 2030
Ethereum News Today: Record-Breaking ETF Inflows
The cryptocurrency market has seen a surge in demand for Ethereum, driven by spot ETF inflows. On Dec. 5, the nine Ether ETFs in the United States recorded their largest daily inflow of $431.5 million. This follows two weeks of consecutive gains, with total inflows exceeding $1.3 billion.
The BlackRock iShares Ethereum Trust led the charge, contributing $295.7 million in a single day. Fidelity’s Ethereum Fund and other ETFs also saw significant inflows, signaling growing institutional interest in ETH.
Strategic Moves by Justin Sun
Ethereum news highlights a major move by Justin Sun, who deposited 41,630 ETH worth approximately $145.9 million into centralized exchanges in November. His calculated strategy aligns with Ethereum’s price recovery and rising liquidity.
Sun's strategic engagement has resulted in impressive profits, with combined realized and unrealized gains of $293 million. This showcases his ability to leverage market trends effectively while supporting Ethereum’s bullish trend.
Ethereum Price Prediction for 2024 and Beyond
As ETH continues its upward trajectory, analysts are optimistic about its future. Ethereum price prediction for 2024 suggests further gains, driven by growing ETF inflows and strong market fundamentals. The ETH/BTC ratio has already increased by 14.5% in the past month, and experts believe it could go higher over the next year.
Looking further ahead, Ethereum price prediction for 2025 indicates that ETH may reach new heights as adoption grows and institutional interest strengthens.