Ethereum (ETH) hit its 2024 peak of $4,093 on March 12, and since then the altcoin has consolidated under this level.
BlackRock’s Ethereum ETF inflow surpassed Bitcoin by nearly $40 million on Tuesday. Ethereum staked supply hits 28%, with only 10% of the supply on exchanges, hinting at reduced selling pressure. Ethereum sustains above support at $3,300, eyes double-digit gains. Ethereum hit its 2024 peak of $4,093 on March 12, and since then the altcoin has consolidated under this level.
16% and hit the $3,819 target – the 78.6% Fibonacci retracement of the decline from the March 12 peak of $4,093 to the July 5 low of $2,810. The altcoin faces resistance at $3,451 and the Fair Value Gap between $3,389 and $3,342. ETH/USDT daily chart If Ethereum closes under $3,300, the 38.2% Fibonacci retracement level, it could invalidate the bullish thesis. Ether could find support at $3,113 and the psychological support level of $3,000.
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