$ETH at the resistance level $3,400 and is now trading at $3,263 while maintaining the price above the critical support level $3,170.
Institutional Buying: The $ETH exchange-traded funds saw strong inflows, including $57.6 million on December 10, indicating continued institutional confidence despite the price decline.
A mix of trader sentiments: While the Fear and Greed Index shows a level of "fear" (29), a high long/short ratio indicates a buildup of long positions, posing a risk of liquidation.
Ecosystem Growth: The creation of a new ETH/USD1 trading pair and multiple campaigns on the Binance Earn platform (such as Yield Arena and WBETH staking) create new opportunities for ETH holders.
Technical Outlook for ETH
Price: $3,263.76 (-0.87% over 24 hours).
Support: $3,177.
Resistance: $3,400.
Indicators: The MACD indicator is positive, but the RSI indicates the need to exercise caution near overbought levels.
Continued Institutional Confidence
ETH exchange-traded funds recorded strong inflows of $57.6 million on December 10.
Reports suggest significant accumulation by whales at key support levels, indicating strong demand.
Reward Earnings: Participate in the ETH Yield Arena and WBETH staking campaign for an enhanced APR rate. 🔗
Strategic Levels to Watch
Support: Rebound from $3,177.
Resistance: Break above $3,400.
