Ethereum price is rallying towards key resistance, but is ETH’s strength sustainable?

Ethereum price rally towards $2,100 East led by new developments In THE layer-2 space And investors anticipation of A place BTC ETF.

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Ether (ETH) East trade upper on Dec. 1, despite It is inability has infringe THE $2,100 resistance. This level has guest several refusal In THE pass three weeks, which East especially concerning given Ether 16.2% earnings In November.

Ether 12 hours price hint, USD. Source: TradingView

However, THE current positive momentum East supported by several factors, including apps For place AND F And THE expansion of Ethereum ecosystem, led by layer-2 solutions.

ETH benefits Since ETFs expectations And negative news related has in competition blockchains

A pivot development occurred on Nov. 30, with THE WE. Securities And Exchange Commission (SECOND) initiate THE goodbye process For Faithfulness place Ether ETFs proposal, deposit on Nov. 17. This move, along with similar apps Since companies as black rock, waits regulatory Green light. If approved, these AND F would be bolster Ether Status as A digital merchandise, reduce THE probability of he be treaty as A security.

Despite analysts predict THE SECOND could delay It is decision has early 2024, temp worker time limit For apps by VanEck And ARK 21Shares on Dec. 25 And Dec. 26, respectively, to have guard THE walk engaged. THE assembly interest Since big mutual funds In Ether some products East create A favorable impact on It is price.

THE Ethereum the network growth, especially In transaction activity And layer-2 development, East outstanding. THE Ethereum layer-2 ecosystem has become more and more important as ...