Does Ethereum still have a chance to break new highs?

Market predictions show a 96.7% probability of the Federal Reserve cutting interest rates in December. On December 12, Bitcoin ETF had a net inflow of 598 million, while Ethereum ETF had a net inflow of 274 million. ETFs continue to see significant inflows daily, but prices have stagnated due to a large supply in the market. Last night, it was evident that while buying pressure was strong, selling pressure was even stronger.

Trump stated at the opening ceremony of the New York Stock Exchange that great things will be done in the fields of cryptocurrency and artificial intelligence, which will require a lot of electricity. This is clearly a positive measure for mining.

Market Analysis

Bitcoin was pushed up by the ETF yesterday but then fell back down, resembling the market from March to April this year. The ETF keeps flowing in, while prices remain stagnant. As long as this level cannot be surpassed, what follows will definitely be a correction, but not a significant one. There shouldn’t be any major adjustments before Trump officially takes office.

Ethereum is really struggling, as it hasn't managed to break through 4000 and has been pushed down again. It seems that Bitcoin at 100,000 and Ethereum at 4000 are important levels for supply release, so the exchange rate at 0.04 should be a hurdle in the short term. If it gets over this, there will be more to see; if not, it may get stuck here for the month.

SOL240 also didn’t reach its target, and if it goes down to 220 again, I wonder if it can hold up. However, there is still support below, and SOL can continue to be bought at lower prices.

As for Altcoins:

Today, the one-day rebound for altcoins has ended, with most cryptocurrencies experiencing varying degrees of pullback. Overall, the market still looks weak, primarily influenced by Bitcoin, with LINK and AAVE supported by the Trump group standing out.