Ethereum Price Faces Resistance Amidst Record Institutional Demand

Ethereum’s price is approaching a significant resistance point around $4,060, with on-chain data revealing record leverage levels. This crucial level has historically served as a turning point for market trends, both indicating continuation or reversal. The recent surge in ETH holdings by US Spot ETFs, exceeding 5 million ETH valued at over $20 billion, led by BlackRock and Fidelity, indicates robust institutional interest.