Institutional Interest Increases, Ethereum $ETH Achieves Billion Dollar Inflow

Ethereum through its native token, Ether ($ETH ) has continued to show steady growth in the past three weeks. Since November 18, the value of ETH has increased by 28 percent.

Although it had dropped to US$ 3,651 on December 5, Ether managed to recover and again surpassed the US$ 4,000 mark. Currently, the yearly high of $ETH

at US$ 4,098 is approaching, with the trend showing a gradual upward pattern on the 4-hour chart. In addition, the Relative Strength Index (RSI) indicator shows healthy momentum, remaining below the overbought zone.

Analysts see that Ethereum is at a crucial point towards a major change. An anonymous crypto analyst, Venture Founder, said that Ethereum has been consolidating in an ascending triangle pattern for the past three years.