On December 11, the Federal Reserve cut interest rates, causing the cryptocurrency market to "explode", can Ethereum break through the 3700 mark?

On December 11, the Federal Reserve cut interest rates by 25 basis points, and this news had a huge impact on the cryptocurrency market, with the total market value of cryptocurrencies soaring by over 140 billion dollars in a single day. Ethereum performed outstandingly in this market, with a 24-hour increase of 7.97%, but the market was highly volatile, which also led to a significant increase in the amount and number of liquidations across the network.

From the market reaction, a typical pattern of buying expectations and selling facts is presented, with some funds taking profits after the interest rate cut announcement, causing Bitcoin and Ethereum to rise and fall. However, the chairman of the U.S. SEC clearly stated that ETH does not belong to securities, eliminating regulatory uncertainties in the U.S., which is a positive signal.

In terms of technical analysis, Ethereum broke through the psychological barrier of 3400 dollars, with multiple indicators showing it is in a strong upward channel, but there is short-term adjustment pressure. At key price levels, short-term resistance is near 3375 dollars and 3439 dollars, and if broken, the target looks towards 3700 dollars; support is in the 3100 - 3120 dollar range, and a loss of this could lead to a drop to 3000 dollars. Technical indicators such as the moving average system showing a bull arrangement, the bullish triangle breakout at the 4-hour level, and the MACD indicator showing strengthened market momentum all provide some reference for Ethereum's trend.

The flow of funds is worth noting, with whales and institutional investors actively increasing their positions during market fluctuations. Large whale addresses have increased their ETH holdings, and wallets holding between 10,000 to 100,000 ETH have cumulatively added nearly 400,000 ETH, while the supply of ETH on exchanges has dropped to historically low levels. Traditional financial institutions are also opening doors to the cryptocurrency market, suggesting a potentially positive outlook.

In terms of sector linkage, privacy coins are favored due to their safe-haven attributes and practical value, the Web3 gaming sector is exploding due to rich application scenarios, and the DeFi sector is seeing confidence restored through upgrades and optimizations.

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