Ethereum’s native token, Ether, has seen a price increase of 5.75% within 24 hours, reaching approximately $3,640 on November 28. This surge outperformed the overall crypto market, which rose by 2.82%. The main drivers of this rally include investor optimism related to Bitwise Asset Management’s ETF application with the SEC, which includes Ether in its 10 Crypto Index Fund. Ether's recent performance is complemented by a rise in the futures market's open interest that has now surpassed $24 billion, indicating a strong bullish sentiment. Furthermore, Ether’s technical analysis reveals a breakout from a cup-and-handle pattern, projecting a potential increase to nearly $3,940 by December. This combination of investor enthusiasm and technical momentum supports Ether's upward trajectory.

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