Ethereum Trades Inside Rising Channel, $3,850 Support Holds Strong

Ethereum’s price continues to trade within a rising channel, supported by strong resistance at $6,000 and bolstered by institutional demand. The asset currently trades near $4,375.58 after a recent rally that has seen the price consolidate around the $3,850–$3,900 support zone. Key drivers behind this movement include expanding DeFi applications, increasing institutional investment, and the Ethereum Foundation’s plans to convert 10,000 ETH for research and ecosystem development.