Ethereum could surprise the market sooner than expected. With the imminent arrival of ETFs, strategic purchases by the US Treasury, and a bullish technical backdrop, ETH seems poised to break the $3,400 barrier. But that's not all...
Data shows that more than one billion dollars have flowed into Ethereum exchange-traded funds (ETFs) in recent days. Additionally, Ethereum Treasury companies have accumulated over 545,000 ETH during the past month. This massive institutional support indicates that investors expect Ether to continue its upward trajectory.
Despite a slight pullback below $3,000, the technical signals remain favorable for continued growth. A bounce off the support at $2,879 would pave the way for an assault on the $3,083 threshold, potentially followed by a surge to $3,400. Only a break below the 20-day moving average ($2,734) would challenge this bullish short-term outlook.
The massive capital inflow into Ethereum ETFs and sustained Treasury purchases represent extremely positive signals for the price of ETH. Despite current fluctuations, investors seem convinced that the upside potential is far from exhausted. A breakthrough above $3,400 could mark the beginning of a new phase of vertical progression for the second-largest cryptocurrency.
ETH is preparing for an explosive rally as a promising technical signal emerges. Here’s a guide to easily obtain this altcoin on Bybit :
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