The price of ETH, the native token of the Ethereum network, has caught the market's attention as it approaches its annual highs and reaches the key level of US$ 4,000.
At the time this article was written, ETH was trading at US$ 3,930, with a daily gain of 2.4%, a weekly gain of 8.8%, and a monthly gain of 48.2%.
Analysts maintain an optimistic view on a possible advance above US$ 4,000:
"US$ 6,400 will become a magnet if Ethereum ETH surpasses US$ 4,000!"
What is driving the price of ETH today? 3 main points.
The cryptocurrency market is growing, primarily driven by the resolution of the long-standing litigation between Ripple and the US SEC. Both parties filed a petition with the Second Circuit Court of Appeals to dismiss the SEC's appeal and Ripple's cross-appeal, a request that was granted, officially closing the case. This outcome increases optimism about the regulatory impact this could have on the sector.
Additionally, the current market conditions are favorable: the price of Bitcoin has recovered to the level of US$ 116,000, avoiding a potential downward trend.
In this context, ETH has room to continue rising, although it faces important resistance zones where it has historically suffered setbacks, as detailed in the technical analysis.
ETH chart analysis: key levels to watch.
Ethereum has maintained its upward trend, surpassing the US$ 4,000 mark at its session highs. If it can consolidate in this area, it could pave the way for new gains, although it is currently at significant resistance levels, with a history of significant corrections.
ETH price analysis.
Resistances to consider:
US$ 4,010: Strongest daily resistance.
US$ 4,100: next target if the movement continues.
US$ 4,175: After breaking the previous level, it would not encounter any significant resistance at this moment.
Supports to monitor:
US$ 3,932: Immediate support aligned with the 20 EMA.
US$ 3,886: Strong support that may prevent further declines.
US$ 3,749: Major support, aligned with the 200 EMA and with strong buying presence.
The RSI at 58 reflects a slight bullish control amid a strong battle against selling pressure. The level of US$ 4,000 is a high liquidation zone, whose breakout or rejection may determine the next price movement.
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Relevant data on the current rise of ETH.
Altcoins are gaining strength: on Binance, capital inflows reached their highest level in 18 months.
In the past month, the supply of stablecoins on the Ethereum blockchain has increased by 7%, consolidating its leadership in this segment.
Spot ETH ETFs have already accumulated over US$ 9.2 billion in inflows, with BlackRock's ETHA fund managing nearly US$ 11 billion.
With a market capitalization of US$ 470.8 billion (12.2% of the total cryptocurrency market), ETH strengthens its position as one of the most relevant assets.
In the last 24 hours, the trading volume was US$ 32.5 billion, with prices ranging from US$ 3,806 to US$ 3,972.
Open interest in futures exceeds US$ 52.19 billion, equivalent to 13.38 million ETH, with Binance, CME, and Bybit standing out as the platforms with the highest volume.