Ethereum, the second-largest cryptocurrency by market capitalization, was trading at $4,008. But the momentum failed to continue as it has faced resistance over the past three consecutive weeks.
Still, ETH has positive catalysts that could push its price higher in the near term. The first main catalyst is that Bitcoin has continued rising and moved to a record high this week. Altcoins like Ether often follow the price of Bitcoin. Spot Ethereum ETFs are also seeing strong inflows, a trend that may continue in the coming months. Its cumulative inflows rose to over $2.3 billion, with those by Grayscale and Blackrock having the biggest market share. It has had inflows in the last 17 consecutive days.

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