Ethereum's recent price movement has been shaped by a combination of technical resistance and evolving market sentiment. Despite a recent bullish trend, Ethereum is encountering significant resistance around the $3,231 level, which has hindered its ability to sustain upward momentum. Analysts suggest that breaking through this resistance could pave the way for higher targets, such as $3,730 and potentially $4,000. However, failure to overcome this barrier might lead to a retest of lower support levels, including the psychological $3,000 mark. The market is also witnessing increased institutional interest, with major players like BlackRock and Fidelity expanding their Ethereum holdings, potentially laying the groundwork for future price increases.
The Volatility Shares Trust 2x Ether ETF (ETHU) is currently priced at $7.08, with no previous close price available for comparison.