Ethereum has seen a slight increase in price of 0.94% in the past day, with the cryptocurrency attempting to reach the $4,000 mark. However, its daily trading volume has decreased by 20.90% according to data from CoinMarketCap. The global crypto market has been generally bullish over the weekend, with a 1.38% increase in overall market value. Bitcoin has broken through its recent resistance at $100,000 and is holding steady. On the other hand, some altcoins like PEPE have seen price increases while others have seen declines.
One of the factors contributing to Ethereum’s price actions is the Trump DeFi project World Liberty Financial buying ETH. This has brought attention to the altcoin in the market. Despite starting at a low of $3,876 on December 13, Ethereum has since made gains and is currently trading at $3,914. The cryptocurrency has been testing the $3,900 level multiple times over the past week, struggling to break through the resistance. Market analyst Michaël van de Poppe believes that the AltSeason is only experiencing a higher low and predicts more bullish trends in the future.
Technical analysis of Ethereum’s indicators suggests a positive trend in the coming days. The Chaikin Money Flow (CMF) value is at 0.13, indicating an increase in capital flow into the asset. With a bull power indicator value of 8.55 and a bear power indicator value of -0.95, there is a bullish dominance in the token. It is expected that Ethereum may break through the crucial resistance at $4,000 and face its next resistance at $4,084 in a bull run. Other altcoins like XRP and BNB have also shown bullish movements in the past 24 hours.
Overall, Ethereum is poised for a potential uptrend in the near future, with technical indicators suggesting a positive trend. The global crypto market has been bullish overall, with Bitcoin breaking through its $100,000 resistance and holding steady. While some altcoins have seen price increases, Ethereum has been struggling to surpass the $3,900 level. With the Trump DeFi project World Liberty Financial buying ETH and market attention on the altcoin, Ethereum’s price movements have been closely watched. Market analyst Michaël van de Poppe predicts more bullish trends in the future, suggesting that Ethereum may surpass its crucial resistance in the coming days.
