Ethereum gains over 1% today, climbing above $4,600, reinforcing the view that despite Bitcoin’s temporary weakness, risk appetite in the cryptocurrency market remains strong. Interestingly, in recent weeks, capital inflows into U.S. Ethereum ETFs have averaged several times higher than those for Bitcoin, even though ETH’s market cap of $555 billion is roughly four times smaller than Bitcoin’s.
Ethereum (H1, D1 interval)
On both short- and medium-term charts, Ethereum’s trend remains upward, with the price trading about 5% below its all-time highs. The cryptocurrency has broken above the 50- and 200-period moving averages on the hourly chart and currently trades around the mid-range of its upward price channel. Key support lies near $4,500, while resistance is at $4,800 — a level where strong selling pressure has appeared twice, in 2021 and again last weekend when the price pulled back from that zone.
Source: xStation5
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