Author: Elena R
Elena R 
Author
Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
Jun 10, 2024 12:57
Elena R
Author
Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
Ethereum has seen a 3% rise in addresses holding more than 10,000 ETH over the last three weeks, indicating increased buying pressure. Ethereum’s current price stabilizes around $3,700 and could aim for $4,000 if it stays above $3,650. According to on-chain data, the community has growing enthusiasm following the SEC’s approval of Ethereum ETFs, and social sentiment stabilizes before trading begins. Analyst Caled Frazen notes that Ethereum’s current price patterns mirror those seen before an 83% rally in 2021. Although there is a modest decline in open interest, this trend may suggest a bullish recovery.