Ethereum’s strong support at $4,000, driven by significant buying, suggests stability.
Breakout above $4,100 could push Ethereum toward $4,200 and $4,500 resistance.
RSI nearing overbought levels and MACD divergence signal potential short-term pullback.
Ethereum’s price is back above $4,000 driven by strong buying and solid support levels. IntoTheBlock data shows 7.2 million ETH were bought just below $4,000. This shows strong demand from investors. This demand suggests that Ethereum’s price may stay above $4,000.
As $ETH pushes back above $4000, a strong support level is solidifying just below this threshold.
7.2 million ETH were purchased at prices slightly under $4,000, signaling significant demand. This demand should help sustain Ethereum's value above the $4,000 level. pic.twitter.com/yAunfqcbY5
— IntoTheBlock (@intotheblock) December 17, 2024
Additionally, a high-profile move from Justin Sun, who applied to withdraw over 52,000 ETH from Lido Finance, adds further weight to Ethereum’s current market momentum.
This adds to Ethereum’s momentum. Sun also bought 392,474 ETH earlier this year. These moves show growing institutional interest and could …
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