The price of Ethereum fell at 3,887 after peaking at $4,087 on December 9, but faced rejection near a previous March high and psychological resistance at $4,000.
Ethereum is trading near $3,880, with overbought conditions indicated by the Relative Strength Index (RSI), reaching values above 70%. This suggests the possibility of a short-term consolidation or a pullback before resuming the broader uptrend, which could push prices above $4,000.
On the other hand, the convergence of the Moving Average (MACD) remains bullish with no major signs of reversal so far.
The hourly chart highlights a typical impulse wave structure, where ETH reached the peak of wave (v) near $4080, the subdivision of its impulse waves should also be a pattern of five waves of the lower degree, which we can observe in the lower timeframe.
This marks the end of a strong rally since the breakout from the triangle pattern in early November. Currently, ETH is retreating from recent highs, signaling the start of a possible ABC-shaped correction.
By measuring with the Fibonacci retracement tool from the beginning of the November uptrend to the December 6 highs, we can spot some important areas where the price can find support. If we assume we see the uptrend complete, a deeper rebound to the Fibonacci level of 0.5 would be the most likely outcome. If ETH holds above these levels, the broader uptrend could resume, targeting a breakout above $4,075. With the RSI of 61, Bitcoin holds room for further upward movement while remaining in a stable trading range.
Bitcoin and Ethereum funds see record growth
The Bitcoin ETF market witnessed remarkable growth last week, coinciding with the price of Bitcoin rising to an all-time high.
Bitcoin ETFs held a record net asset of $112.74 billion at the time of publication, accounting for 5.62% of Bitcoin’s total market capitalization.
Net inflows for the past week were $2.73 billion, with positive inflows recorded on all days. BlackRock’s IBIT, the world’s largest bitcoin exchange-traded fund, attracted the lion’s share of these inflows, receiving more than $2.6 billion.
This reinforces BlackRock’s dominant position in the ETF space and highlights the growing institutional appetite for exposure to bitcoin. Ethereum ETF Breaks Weekly Net Flow Figures Ethereum ETFs have reflected Bitcoin’s success, achieving a feat of their own.
Weekly net inflows reached $836.69 million, the highest in the history of Ethereum ETFs, pushing total assets under management to a record $13.6 billion.
For the first time since its approval, Ethereum ETFs reported two consecutive weeks of positive net inflows, a significant shift in investor sentiment.
On December 5, Ethereum exchange-traded funds set another record, recording $428.44 million in daily net flows, an all-time high for the asset class.
These streams show growing confidence in Ethereum’s potential as a long-term investment, driven by its expanding interest in DeFi and smart contracts.
Bitcoin price holds up after historic high
Bitcoin was priced at $98,521 at the time of publication, reflecting a healthy consolidation phase after its sharp rise that surpassed the $100,000 mark. The 50-day EMA has crossed the 200-day moving average, forming a golden cross – a strong bullish indicator.
Record flows in crypto investments this week
Crypto investment products saw record inflows last week, marking the largest weekly increase in the sector’s history. This massive influx has surpassed previous highs, indicating a sharp increase in investor confidence.
Ethereum saw large inflows last week. Solana’s coin has faced consecutive weeks of outflows, suggesting potential concerns or waning interest. The broader blockchain sector, including blockchain stocks, has seen an increase in investor interest driven by improved Bitcoin mine margins.
Crypto investment products saw record inflows last week, marking the largest weekly increase in the sector’s history. This massive influx has surpassed previous highs, indicating a sharp increase in investor confidence.
Crypto investment products saw a historic influx last week, with a staggering $3.85 billion inflow – the largest weekly influx ever recorded in the sector.
This rise far exceeded the previous high recorded just weeks ago, underscoring investors’ growing confidence in crypto assets recording $428.44 million in daily net flows, an all-time high for the asset class.
Total inflows to date have reached $41 billion, pushing assets under management to an all-time high of $165 billion — well above the 2021 peak, when total inflows reached $10.6 billion, and assets under management peaked at $83 billion. Geographically, inflows were widespread.
Other important contributors included Switzerland with $160 million, Germany with $116 million, Canada with $14 million and Australia with $10 million.
Meanwhile, Bitcoin’s short products saw modest inflows of $6.2 million, suggesting investors are cautious in betting against the cryptocurrency’s recent bullish momentum. Ethereum (ETH) saw its largest weekly influx ever last week, inflowing $1.2 billion — surpassing even booms led by exchange-traded funds in July.
