Ethereum Price Holds Support, Eyes $4.7K Rally as Inflows Surge

Ethereum’s price is currently hovering around the $3,860 level, demonstrating strength and support near a crucial demand zone. This stability could trigger a significant upward movement towards $4,700, fueled by increasing stablecoin inflows and rising Total Value Locked (TVL). 24-hour data indicates nearly $1 billion in stablecoin inflows into Ethereum’s network, indicating growing investor interest in the platform and anticipation for potential DeFi activities or upcoming events. Analysts suggest that if this demand zone holds strong, Ethereum could break past its recent resistance and potentially hit new all-time highs.