Ethereum Set for Major Surge with ETF Approval and Record Trading Volumes

Ethereum is expected to retrace to $3.7k to test a support zone before potentially surging to $4k. Despite a recent 2.24% price decrease, metrics indicate a bullish trend with significant support at $3.7k. However, a fair value gap below this level could pull the price lower. Increased social activity and profitability distribution among holders suggest key support and resistance levels. High market volatility and an overbought stochastic RSI indicate a short-term retracement before a possible continuation of the bull run.