Ethereum Eyes $4,100 as Bulls Push Toward Key Resistance

 

Ethereum (ETH) is on the verge of a major price breakout, with analysts closely watching whether it can surpass the $4,100 mark this week. The cryptocurrency has been riding a strong bullish wave, currently trading at $3,840.12, up 2.11% in the past 24 hours.  

Market Drivers Behind the Rally

- Institutional Demand: The recent approval of spot Ethereum ETFs has fueled significant inflows, with BlackRock’s ETHA fund alone attracting $990 million in just one week.  

- Whale Activity: Large investors have been accumulating ETH aggressively, including one entity that purchased 157,140 ETH (worth $493 million)  earlier this month.  

- Trading Volume Surge: ETH’s 24-hour trading volume spiked to $46.24 billion, an 80% increase, signaling strong market interest.  

Key Levels to Watch

- Resistance Zone: The $3,877–$3,987 range is the next major hurdle. A decisive break above this could propel ETH toward $4,100.  

- Support Level: If profit-taking kicks in, $3,434 will be a critical support to hold.  

Can ETH Reach $4,100 This Week? 

Analysts suggest that if buying pressure continues backed by ETF inflows and whale accumulation the $4,100 target is within reach. However, failure to break resistance could lead to a short-term pullback.  

With institutional interest at record highs and technical indicators favoring bulls, Ethereum’s next move could set the tone for the broader crypto market in the coming weeks. Investors are advised to monitor trading volumes and macroeconomic factors for further clues.