The post Ethereum Testing $4K Resistance Amid Whale Activity and ETF Inflows appeared on BitcoinEthereumNews.com.

Ethereum is testing resistance near $4,000, with the potential to rise to $4,200 if broken. Whale investor sells 11,638.9 ETH for $46.4 million, securing a 96% return. Ethereum is currently testing strong resistance near $4,000 and is trading at $3,890. If it breaks above this level, the price could target $4,200. Conversely, a breakdown below $3,800 may see prices retreat to $3,600. The RSI, currently at 67.23, reflects strong bullish momentum without signaling overbought conditions. Its 14-day average RSI of 68.55 confirms consistent strength. The moving averages further support a bullish outlook. The 9-day EMA at $3,836.57 recently crossed above the 21-day EMA at $3,592.21, signaling an ongoing uptrend. Such crossovers often precede sustained price increases, suggesting Ethereum’s rally could extend. A whale investor who acquired 96,638.9 ETH at $1,567 in 2022 concluded their final trade today, transferring 11,638.9 ETH (worth $46.4 million) to Kraken. Over nine months, the investor sold the entire stash through eight transactions at an average price of $3,078, securing a 96% return of $146 million. This activity reflects Ethereum’s rising demand and profitability in 2024. ETF Inflows Propel Ethereum to New Highs Ethereum-based spot exchange-traded funds (ETFs) have been on a record-breaking streak, with Dec. 6 marking the 10th consecutive day of positive inflows. Over the past week, ETFs attracted $836.7 million, contributing to a total inflow of $1.3 billion in just two weeks. Dec. 5 saw the largest single-day inflow of $431.5 million.  Fidelity’s Ethereum Fund (FETH) led with $113.6 million, followed by BlackRock’s Ethereum Trust (ETHA), which secured $295.7 million. Other funds, such as Grayscale Ethereum Mini Trust and Bitwise Ethereum ETF, also witnessed significant inflows of $30.7 million and $6.6 million, respectively. Fidelity’s FETH remains the dominant player, capturing $47.9 million in inflows on Dec. 6 alone. BlackRock’s ETHA followed closely with…

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Filed under: News - @ December 9, 2024 2:21 pm