Key takeaways
- ETH has held above $3,300 despite losing less than 1% of its value.
- The leading altcoin could see further gains soon as institutional demand strengthens.
ETH remains above $3,300 despite market pullback
Ethereum (ETH), the second-largest cryptocurrency by market capitalization, lost under 1% over the past 24 hours and continues to trade above $3,300 per coin.
This resilience comes alongside growing institutional interest in Ethereum products. Data from SoSoValue indicate steady demand for Ether-linked funds. Spot Ether ETFs recorded net inflows of $175 million on Wednesday, led by ETHA and Grayscale offerings from BlackRock, extending a gradual recovery in flows after a quiet December.
The broader market pullback was driven mainly by the U.S. Senate Banking Committee’s decision not to advance discussion on a crypto market structure bill after Coinbase withdrew its support for the latest draft.
Committee chairman Tim Scott said in an official statement that bipartisan leaders, together with the crypto and financial sectors, continue to work on the proposal.
The delay followed a public reversal by Coinbase CEO Brian Armstrong, who argued that it is better to have no bill than a bad bill. Armstrong highlighted concerns that the draft would eliminate stablecoin rewards, weaken the Commodity Futures Trading Commission (CFTC), impose DeFi restrictions that infringe on privacy rights, and effectively ban tokenized equities.
ETH targets a breakout to $3,500
On the four‑hour chart, ETH/USD remains bullish despite the recent market dip. ETH is trading above $3,300 while buyers defend support around $3,288.
The 4‑hour MACD remains above its signal line and the green histogram bars sit above zero, supporting the bullish view.
An RSI reading near 67 suggests buyers still control momentum. Bulls have pushed above the immediate 200‑day EMA resistance at $3,339. A daily candle close above that level could propel ETH toward resistance at $3,447, a level last tested on December 10.
Conversely, failure to clear that resistance could see ETH retreat toward the psychological $3,000 area.