Ethereum News Today: Ethereum Surges 60% as Traders Watch $4,000 Resistance Zone

Ethereum (ETH) has surged approximately 60% in the past month, drawing significant attention from traders and investors, who are now closely monitoring the $4,000 resistance zone. This strong rally has brought ETH to around $3,503, with price consolidation expected before any further breakout [1]. The recent move has outperformed Bitcoin, which gained only 8% during the same period, marking a reversal of Ethereum’s historical July underperformance [2].

Ethereum’s rise is supported by increased whale activity and growing on-chain participation. According to recent data, the number of addresses holding 10,000 ETH or more has reached levels not seen since 2023. Additionally, over 931,000 Ethereum wallets have moved funds recently, indicating heightened engagement across the network [3]. Analysts like Ted Pillows have noted that while a correction is now evident, this phase of consolidation could precede a new all-time high [4].

Technical indicators suggest that Ethereum may be following a familiar pattern seen in past cycles, notably in 2017 and 2021. The $4,000 level is considered a key resistance zone, and a breakout above this threshold could signal the next leg of the rally. Analysts are closely watching volume levels and RSI movement to confirm potential bullish momentum [5].

The price surge has also had an impact on related investment products. The iShares Ethereum Trust ETF is reportedly experiencing strong inflows, reflecting growing institutional and retail demand [6]. This trend suggests that Ethereum’s rally is not limited to speculative trading but is also gaining traction in structured investment vehicles.

While the market remains optimistic, caution persists due to the inherent volatility of the crypto space. Traders are keeping a close eye on broader market conditions and activity in other major cryptocurrencies, as cross-asset correlations can influence Ethereum’s trajectory [7].

The evolving financial services landscape is also relevant to Ethereum’s performance. Recent industry developments, such as StoneX’s acquisition of R.J. O'Brien, are reshaping the infrastructure for crypto trading and investment products, potentially affecting liquidity and accessibility for assets like ETH [8].

[1] Altcoin Options Heat Up: Bulls Bet Big on ETH, SOL, XRP & ... (https://medium.datadriveninvestor.com/altcoin-options-heat-up-bulls-bet-big-on-eth-sol-xrp-bnb-78c205e8a6d5)

[2] Ethereum (ETH) Price prediction (https://www.bitget.com/price/ethereum/price-prediction)

[3] Ethereum Up 60% in a Month, Here’s Why Traders Are Watching the $4,000 Resistance Zone Closely (https://cryptofrontnews.com/ethereum-up-60-in-a-month-heres-why-traders/)

[4] Ethereum has surged approximately 60% in the past month, drawing significant attention from traders and investors, who are now closely monitoring the $4,000 resistance zone. The uptrend has led to increased trading activity, particularly in options markets where bullish bets on ETH have grown in size and frequency [1].

[6] The iShares Ethereum Trust ETF is reportedly on track to record one of the largest inflows among thousands of ETFs in the current month, indicating growing institutional and retail interest [5].

[7] tahamajs/bitcoin-prediction-context-dataset (https://huggingface.co/datasets/tahamajs/bitcoin-prediction-context-dataset)

[8] StoneX Completes Acquisition of R.J. O'Brien (https://johnlothiannews.com/stonex-completes-acquisition-of-r-j-obrien/)