Large Ethereum transactions surging
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On Dec. 6, the group of nine Ethereum ETFs saw a net flow of 108,045 ETH worth $433.15 million. On Thursday, Ethereum exchange-traded funds listed in the United States had a record inflow of $428 million.crossed $4,000 for the first time during the current market bull run on Friday, reaching a high of $4,096. Since then, the bulls have constantly attempted to break through the $4,000 barrier, but the bears have resisted.At the time of writing, ETH was trading below $4,000, down 0.
On the downside, $3,680 and $3,523 are crucial support levels to keep an eye on. Given that Ethereum steadily gained support on the way up, traders may see dips as a buying opportunity. That raises the prospect of a rally above $4,094. Ethereum might potentially reach $4,500. This positive outlook might be dashed in the short term if Ethereum falls and breaks below $3,523.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst.
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