In the past month, the price of Ethereum (ETH) has risen by 33%, and market sentiment is once again high. December may be an important time for ETH to create new highs, provided that the price breaks through the key resistance point - $4,000. The market performance of Bitcoin is crucial to Ethereum. If Bitcoin continues its strong upward trend, Ethereum may also break through the psychological threshold.
However, current on-chain data indicates that the inflow of funds from large investors has decreased, and the accumulation trend of 'whales' has temporarily slowed. Does this mean that Ethereum's upward momentum is limited? The answer may not be simple. The active participation of retail investors, along with Bitcoin's price performance, remains key factors for whether the market can continue to rise.
From a technical perspective, Ethereum has formed a typical 'rising flag' pattern on the daily chart, which usually indicates that prices will break through in the short term. Although the current price is facing certain resistance around $3,600, as long as the flow of funds and market sentiment align properly, the target of breaking through $4,000 is not out of reach.
It is crucial to pay attention to the fund rates and whale movements. This is a critical point that should not be missed, and Ethereum's next direction will be revealed in December.
