4000$ TARGET HIT 🎯🎯🎯🎯🚀🚀🚀🚀

Ethereum (ETH) is witnessing a surge of interest from traders, with CME open interest reaching a new all-time high and Ethereum USDT supply reporting a growth of 27% for November.
As the crypto markets enter the final month of 2024, ETH is looking to end the year on a high and extend its rally beyond $4,000.
Ethereum (ETH) Sees Surge In Investor Interest
Ethereum (ETH) is trading just below the $3,700 level and could rally to test the resistance at $4,000. Trading data shows that ETH has established a foothold above the crucial $3,500 level, indicating growing investor confidence in the asset. Its recent price action also points to strengthening market dynamics as ETH looks to maintain its upward trajectory. ETH’s price chart shows a consistent recovery phase, with prices remaining above crucial support zones. Data from Kraken reveals buyers consistently stepping in above $3,500, suggesting the formation of a strong foundation and support zone at this level, providing a base for future price discovery.
Trading volumes have also jumped, indicating active participation across derivatives and spot markets and broad-based interest at current prices. This level of market activity indicates strong market engagement rather than short-term speculation.
Ethereum CME futures open interest (OI) has been significantly higher since the US elections and has consistently risen with the price of ETH. The Ethereum CME open interest gives an idea of US investor interest in ETH derivatives. The ETH CME open interest crossed $2.8 billion for the first time last week, indicating surging interest among US traders in the altcoin. The bullish sentiment also sent ETH’s CME futures surging.
Spot Ethereum ETFs have also seen consistent inflows, outpacing spot Bitcoin ETFs, and have recorded $225 million in inflows over the past four days.
Ethereum Sets Sights On $4,000
Ethereum (ETH) has been steadily climbing over crucial levels as it looks to end the year on a high. Following the US election, ETH surged past the 200-day SMA and $3,000, levels it has struggled to cross. It faced a decline after reaching this level as sellers attempted to drive the price below $3,000. However, ETH found strong support at around $3,100, preventing a further decline. After trading between $3,100 and $3,200 for a few sessions, ETH rallied on Thursday (November 21) to go above $3,000 and settle at $3,360. The price faced considerable selling pressure on Friday, falling back in the red, dropping by 0.96% to $3,328.
The weekend began with ETH surging towards $3,500. However, buyers lost momentum after reaching $3,502, and ETH fell to settle at $3,396, an increase of just over 2%. Sellers returned to the market on Sunday as ETH faced significant volatility, dropping by 1.01% to $3,362. ETH recovered on Monday, rising by 1.60% to hit an intraday high of $3,547 before dropping and settling at $3,415. It fell back in the red again on Tuesday, registering a drop of almost 3% and settling at $3,325. Despite Tuesday’s bearish session, ETH rallied on Wednesday, surging nearly 10% to go above $3,500 and settle at $3,657. However, it could not go above the resistance at $3,700 and fell back on Thursday, dropping over 2% to $3,580. Buyers attempted a recovery on Friday but could only manage a marginal increase and move the price to $3,694.
However, ETH has seen momentum build during the ongoing session as it went past $3,700 to $3,733 before declining to its current level of $3,665, up 2%.

Where Next level For Ethereum (ETH)?
Ethereum faces resistance at $3,700. If ETH can rally and move above this level, it could move to $4,000. A break above $4,000 could see the altcoin hit a new yearly high above $4,522. The RSI indicates bullish sentiment, hinting we could see a rally towards the $4,000 mark.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
#EthereumAwakening? #ETHETFsApproved #ETH🔥🔥🔥🔥 $ETH