Ethereum's price recently dropped to $3,300, but this level seems to act as a support floor. With increased investor interest and network activity, Ethereum might soon target $4,000. Its active address momentum is above the yearly average, indicating robust network fundamentals. Heightened usage reinforces Ethereum's resilience amid market volatility.
Over 87,000 ETH, worth about $300 million, was bought in 24 hours, showing investor confidence in recovery. The net exchange position suggests growing bullish sentiment, with investors preferring to hold rather than sell Ethereum. Efforts to surpass the $3,524 resistance are crucial for pushing the ETH price higher.
If Ethereum remains bullish, it could hit the psychological $4,000 mark, attracting more investor interest and network activity. However, losing the $3,327 support might bring the price near $3,000, altering the current outlook and requiring stronger market support.
