Ethereum Price Eyes $3,911 Amid Increased Whale Deposits and Institutional Demand

Ethereum Price Today witnessed a significant 5.75% surge within the last 24 hours, propelling it to approximately $3,640 as of November 28. This surge outpaced the broader crypto market’s 2.82% gain during the same period.

The bullish momentum in Ethereum Price is supported by technical factors. The ETH/USD chart reveals a rebound from the 50-period EMA on the four-hour timeframe, a crucial support level throughout its recent uptrend. Furthermore, Ether’s breakout from a cup-and-handle pattern suggests a price target near $3,940, signaling over a 10% potential rise.

Read our detailed Ethereum price prediction 2024 and Ethereum's next move
https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/

Adding to the optimism, ETH futures open interest (OI) has soared to an all-time high of $24 billion, marking a $4 billion increase in just 24 hours. The consistently positive funding rate of 0.53% reinforces bullish sentiment, creating a feedback loop of increased market participation and higher prices.

Despite notable whale activity—with Ethereum cofounder Jeffrey Wilcke and others offloading significant amounts of Ether—institutional demand remains strong. US spot Ether ETFs and whale purchases worth $64 million reflect growing confidence in Ethereum’s ecosystem.

Looking forward, Ethereum Price Prediction 2024 and 2025 continues to favor bullish trends, with a midterm target of $3,911 based on Fibonacci extensions. However, strong support at $3,285 provides a safety net against potential bearish pressure. Stay tuned for more ETH News and Ethereum News Today as the market unfolds.