Ethereum demonstrates a confident rise, having surpassed $3500, which instills optimism among market participants. The increasing inflow into the cryptocurrency ETF also indicates growing confidence in the token.
Current Market Situation
The rise from interim lows around $3300 has avoided a downtrend that could have brought the ETH price below $3200. The token is now preparing for a potential upward move, holding levels at $3500. Positive ETF inflows indicate growing confidence from both institutional and private investors.
Ethereum Price and Technical Analysis
A constant inflow into ETH ETFs has been observed over the past week, exceeding $200 million, which is more than that of Bitcoin. This indicates growing confidence in Ethereum. If the current momentum continues, there could be a significant rise in the token's price trajectory. ETH has broken crucial levels, suggesting positive developments in its price trend.
Possible Development Scenarios
ETH price has surpassed the psychological barrier at $3500, with technical indicators suggesting a potential rise to $4000. The RSI (Relative Strength Index) suggests sustained growth could continue. The upcoming 'Golden Cross' substantiates this view. However, not all traders are confident in further increases, as significant shorts have accumulated around the $4000 level. If these positions are liquidated, it could place significant pressure on the price.
As expected, after reaching $4000, Ethereum's price will be further influenced. If trading volumes maintain and ETF inflows persist, further growth is possible. A correction to $3800 is possible if shorts are liquidated. However, expectations of upward trends remain strong.
