Ethereum is finally moving independently from its big brother, Bitcoin, which has corrected over the past week.<\/p>\n
As a result, ETH prices hit $3,682 during early trading in Asia on Thursday, its highest level since June 10. This culminated in an 18% gain over the past week. Conversely, Bitcoin has declined by 2% over the past seven days.<\/p>\n
Ethereum had retreated to $3,600 at the time of writing, but it appears to have awakened after months of slumber.<\/p>\n
Ethereum $ETH<\/a> getting sent pic.twitter.com\/JxgnOQPniK<\/a><\/p>\n \u2014 Barchart (@Barchart) November 27, 2024<\/a><\/p>\n\n Crypto analyst Rekt Capital commented that Bitcoin\u2019s range between $91,000 and $100,000 \u201cmay very well be a recipe for Ethereum to take the lead and enable money flow into smaller Altcoins.\u201d<\/p>\n In a separate post, he said that ETH would need a weekly close above $3,650 for it to break out from previous highs in June.<\/p>\n He added that this would enable ETH to target resistance<\/a> at $4,000 before adding, \u201cHistorically, such weekly closes inside the red resistance have preceded strong upsides,\u201d which could see the asset reach $4,500.<\/p>\n $ETH<\/a><\/p>\n Ethereum will need to Weekly Close above ~$3650<\/p>\n Why?<\/p>\n In order for it to breakout from its light blue pattern<\/p>\n So as to later position itself for a Weekly Close within the $4000 resistance (red box)<\/p>\n Historically, such Weekly Closes inside the red resistance have preceded\u2026 pic.twitter.com\/fQCJSJTQkV<\/a><\/p>\n \u2014 Rekt Capital (@rektcapital) November 27, 2024<\/a><\/p>\n\n Engineer and analyst \u2018Wolf\u2019 echoed<\/a> the sentiment to his 107,000 X followers on Nov. 28. \u201cNo matter how you look at the$ETH chart, it\u2019s incredibly bullish,\u201d he said before adding:<\/p>\n \u201cOne way to view it is as a 3-year cup and handle, with major resistance at $4k. Once that\u2019s cleared, a measured move places it north of $15k.\u201d<\/p>\n Meanwhile, investor and entrepreneur Ted Pillows said<\/a> ETH was forming an inverse head and shoulder pattern and showing strength despite BTC\u2019s decline before predicting:<\/p>\n \u201cI personally think ETH will outperform BTC over the next 4-6 months, and I\u2019m betting heavily on it. $10,000+ ETH is programmed this cycle.\u201d<\/p>\n The Ethereum bull-posting follows months of FUD<\/a> from Bitcoin maxis and Solana disciples asserting that the network and asset were dead.<\/p>\n Institutional investors appear to be leading the charge with spot Ether ETFs in the United States, which have seen large inflows recently.<\/p>\n According to preliminary data from Farside Investors, the nine funds saw an aggregate inflow of $145.7 million on Nov. 27, their highest for a fortnight.<\/p>\n BlackRock\u2019s ETHA fund led the pack with $55.6 million inflows, followed by Fidelity\u2019s FETH with $38 million and the Grayscale mini Ethereum Trust (ETH) with $37.3 million.<\/p>\n The post Ethereum Hits 6-Month High Near $3,700 as ETFs Drive Momentum\u00a0<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Ethereum is finally moving independently from its big brother, Bitcoin, which has corrected over the past week. As a result, ETH prices hit $3,682 during early trading in Asia on Thursday, its highest level since June 10. This culminated in an 18% gain over the past week. Conversely, Bitcoin has declined by 2% over the […]<\/p>\n","protected":false},"author":0,"featured_media":24150,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-24149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/24149"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24149"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/24149\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/24150"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}ETH Retuns to Summer Highs<\/h2>\n
Ethereum ETFs Driving Momentum<\/h2>\n