Ethereum $3,197.8 (ETH) is preparing to make a splash in the corporate finance world with a new initiative, Etheralize. Introduced as the corporate marketing and product development arm of the Ethereum ecosystem etheralizedaims to solidify the altcoin king’s place on Wall Street. This new initiative by the Ethereum Foundation and Vitalik Buterin has raised hopes that Ethereum could become the pioneer of global finance. However, the recent acceleration of spot Ethereum ETFs in the USA has increased the mobility in the price of ETH.
Intense Interest in Spot Ethereum ETFs
Spot Ethereum ETFrecorded a total inflow of over $70 million on January 22, the last trading day. With six consecutive days of inflows exceeding $70 million, investors’ interest in ETH has increased. However, current market data indicates that the price of ETH may enter a downward trend for a while and the price may retreat to the demand zone around 3 thousand dollars. After this withdrawal, investors made a big move, with the price rising above $4,200. altcoin seasonHe wonders if it will trigger it.
Ethereum’s price action on the monthly time frame reveals that both bulls and bears are equally influential. In daily data, it is predicted that the price may make a new upward movement. However, the decrease in transaction volume may make it difficult for this rise to be permanent.
If the market does not support the transaction volume ETHThe price may continue to consolidate below $3,400. However, indicators on the monthly time frame indicate that the altcoin king could reach a new five-digit all-time high in the future.
New Highs May Come If Bulls Gather Their Strength
Ethereum’s monthly time frame Relative Strength Index The (RSI) value has never fallen below the 40 level in history. This provides strong bottom support in current declines. However, bulls need to push the price of ETH to the critical resistance above $3,500. However, the fact that transaction volume is still in a downward trend makes the possibility of this recovery uncertain.
If the price exceeds 4 thousand dollars in the first quarter of 2025, a steady increase in the price of ETH may be possible. However, it is critical for this rise that the bulls increase their strength and the bears’ influence is broken.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
