According to Coinotag, Ethereum is nearing key resistance near $3,500 after rebounding from $2,616 support, supported by a rising market structure, $70.16 billion in TVL, and sustained ETF inflows exceeding $312 million last week. On-chain data shows 474,956 active addresses and $2.218 billion in DEX volume, while exchange-held supply has dropped to 8.84%. Analysts note Ethereum’s breakout from a descending channel and accumulation in Fibonacci levels between $2,800 and $2,900, with technical indicators like RSI above 50 signaling continued buying pressure. Developer upgrades like Fusaka and institutional inflows are reinforcing Ethereum’s ecosystem strength as it tests resistance ahead of potential new highs.
Ethereum Approaches $3,500 Resistance Amid Strong On-Chain Activity and ETF Inflows
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