Ethereum

bullish

Resistance

<ul class="wp-block-list"> 
 <li>Ethereum is testing resistance near $4,000, with the potential to rise to $4,200 if broken.</li> 
 <li>Whale investor sells 11,638.9 ETH for $46.4 million, securing a 96% return.</li> 
</ul> 
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<a href="https://coinmarketcap.com/currencies/ethereum/" target="_blank" rel="noreferrer noopener nofollow"> prices </a>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. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="472" src="https://thenewscrypto.com/wp-content/uploads/2024/12/ETHUSD_2024-12-09_13-51-10-1024x472.png" alt="" class="wp-image-117183" srcset="https://thenewscrypto.com/wp-content/uploads/2024/12/ETHUSD_2024-12-09_13-51-10-1024x472.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/12/ETHUSD_2024-12-09_13-51-10-300x138.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/12/ETHUSD_2024-12-09_13-51-10-768x354.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/12/ETHUSD_2024-12-09_13-51-10-1536x708.png 1536w, https://thenewscrypto.com/wp-content/uploads/2024/12/ETHUSD_2024-12-09_13-51-10.png 1814w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
</figure> 
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 <a href="https://x.com/EmberCN/status/1865926093309628417" target="_blank" rel="noreferrer noopener nofollow">acquired</a> 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. 
<h3 class="wp-block-heading" id="h-etf-inflows-propel-ethereum-to-new-highs">ETF Inflows Propel Ethereum to New Highs</h3> 
Ethereum-based spot exchange-traded funds (<a href="https://sosovalue.com/assets/etf/us-eth-spot" target="_blank" rel="noreferrer noopener nofollow">ETFs)</a> 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.&nbsp; 
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 $34.56 million. The ETF inflows have coincided with Ethereum’s price surge, which surpassed $4,000 on Dec. 6, marking a 10% rise in the past week and the <a href="https://thenewscrypto.com/chainlink-link-social-dominance-spikes-to-its-highest-level-since-december/" target="_blank" rel="noreferrer noopener">highest</a> level since March 2024.&nbsp; 
December’s trading volumes have been robust, with nearly $1 billion traded on Dec. 6 alone, the fourth-highest day since ETFs launched in July 2024. Alongside these developments, the NFT market has seen a revival, with top projects posting double-digit percentage gains. 
Highlighted Crypto News Today <a href="https://thenewscrypto.com/ripple-ceo-brad-garlinghouse-calls-for-clear-regulation-on-60-minutes/" target="_blank" rel="noreferrer noopener">Ripple CEO Brad Garlinghouse Calls For Clear Regulation on 60 Minutes</a>

Ethereum Testing $4K Resistance Amid Whale Activity and ETF Inflows

Table of Contents

TheNewsCrypto

Other articles published on Dec 9, 2024

Topone Exchange: 1000x Leverage and Free Trading, All at Your Fingertips!

Top Ripple (XRP) Price Predictions

Tether On-chain Wallets Reach 109 Million By Q4 2024

Spanish Psychic Predicts Grim Future for Bitcoin by 2030

Mandala Chain (Powered by Polkadot) Secures $1 Million in Pre-Seed Funding (9 Dec)

Anita AI: The First AI-Driven Influencer Launches Her Own Token, $ANITA

Join our free newsletter for daily crypto updates!