[LIVE] Ethereum Price Tracker, July 29: Can ETH Hit the $4000 Price Target Today?
![[LIVE] Ethereum Price Tracker, July 29: Can ETH Hit the $4000 Price Target Today?](https://static.bitprismia.com/feature-images/cryptonews/875bc4c3bd11dafdf49b5964c230f1b2.jpg?x-oss-process=image/resize,m_lfit,w_708,limit_0/quality,q_90/format,webp)
Main Idea
Ethereum (ETH) is showing bullish momentum with potential to reach the $4000 price target, driven by factors like DeFi interest and ETF inflows, though resistance and volatility remain concerns.
Key Points
1. Ethereum's price is testing key resistance levels, with the $4000 mark being a significant multi-month resistance point.
2. Recent bullish momentum in the crypto market has fueled ETH's upward movement, with a 5.1% increase over the past week.
3. Growing interest in decentralized finance (DeFi) and steady inflows into Ethereum ETFs (e.g., $65.2M yesterday) are supporting the price rally.
4. BlackRock purchased $130.2M worth of Ethereum, indicating institutional interest.
5. Analysts note that a breakout above the $4000 resistance could confirm strength and act as support for further gains.
Description
The Ethereum price continues to capture the spotlight as the market eyes a potential push toward the $4000 mark. Following recent bullish momentum in the broader crypto market, ETH has shown strong upward movement, testing key resistance levels. Traders and investors are closely watching whether this momentum can sustain enough strength to drive the price into the next psychological zone. The recent Ethereum price rally is fueled by growing interest in decentralized finance (DeFi) and Ethereum’s...
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