Ethereum may not have spiked like its top rival Solana, or set a new all-time high like Ethereum. However, the largest altcoin has been steadily gaining in November, and last week, it hit a five-month high. It’s now gearing for a year-end rally that could propel it past $4,000. Meanwhile, investors are turning to new DeFi altcoin sensation Yeti Ouro (YETIO), which is closing in on the $1 million mark in its ongoing presale.
Ethereum News: ETH Price To $4,000?
Ethereum has traded above $3,600 since the weekend began, and despite a slight dip at the start of the week, the altcoin has rebounded to change hands past this critical level. It has now traded consistently above $3,500 for seven days.
For ETH, the next critical price resistance that it must clear to finish the year on a high is $3,659, which has been a long-term resistance. In the past week, it has climbed past this level in moments but has been unable to maintain its price above this level. If it fails to consistently trade above this level, it could dip, and the next support level is at $3,360. Its next support levels are at $3.051 and $2,816.
However, if it manages to surge past this critical resistance, the Ethereum price could hit $4,000 by the end of the year. One of the biggest tailwinds for altcoin has been its rising interest from institutional investors. For months, this group has preferred Bitcoin over ETH, but as data from Farside shows, Ethereum spot ETFs have been doing exceptionally well. On Friday last week, they brought in $332 million, with BlackRock’s iShares Ethereum Trust attracting $250 million, which was higher than the $137 million that the company’s Bitcoin ETF attracted.
Analysts from Bernstein say that this continued investment “creates favorable demand-supply dynamics for ETH.” It could get even better if the Trump administration approves Ether staking for ETFs, which would make them a more attractive venture than their BTC counterparts.
Crypto Whales Turn To Yeti Ouro
As crypto whales monitor the Ethereum price movement, they are investing in Yeti Ouro, a new utility meme coin that is taking the sector by storm.
Yeti Ouro is built around Yeti Go, a new play-to-earn game that allows players to compete for cash prizes paid out in YETIO, the ecosystem’s native token. The goal for the players is to outwit and attack each other using weapons purchased through YETIO. They must also dodge hazards and obstacles along the way to emerge victorious.
YETIO is built with utility in mind. In addition to rewards and purchasing weapons, the token pays for the race entry fees, powers transactions on the in-game marketplace and can be staked to unlock exclusive rewards and special content. Its supply is capped at one billion tokens, with 5% allocated to the token-burning mechanism, boosting its price.
In the ongoing presale, the project has sold over 71 million tokens and is edging closer to the $1 million mark in funds raised. At $0.012, the token is going for a steeply discounted price, with many expecting it to skyrocket as it proceeds to the second stage of the presale.
Join the Yeti Ouro Community
Website: https://yetiouro.io/
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