Ethereum Surges With Key Developments in the Cryptocurrency Ecosystem

Key Points

1. Ethereum's price remained above $3,800 despite a market cool-off before the U.S. Federal Reserve’s interest rate decision.

2. Futures open interest dropped by $2 billion to $54.1 billion, and futures trading volume declined by 32% to $84.7 billion.

3. Three key factors boosting Ethereum: its 10th anniversary, SEC approval of Ethereum ETFs, and BlackRock’s iShares Ethereum ETF holding over 3 million ETH (2.5% of circulating supply).

4. Ethereum is trading at $3,802, with resistance at $4,158 and support at $3,518; RSI at 75.48 suggests potential for short-term upward movement.

5. Analysts predict breaching $4,158 could push the price to $4,500, while dropping below $3,750 may lead to a retracement to $3,520.