Ether (ETH) is trading higher on Dec. 1, despite its inability to breach the $2,100 resistance. This level has prompted several rejections in the past three weeks, which is especially concerning given Ether’s 16.2% gains in November.

Ether 12-hour price index, USD. Source: TradingView

However, the current positive momentum is supported by several factors, including applications for spot ETFs and the expansion of Ethereum’s ecosystem, driven by layer-2 solutions.

ETH benefits from ETF expectations and negative news related to competing blockchains

A pivotal development occurred on Nov. 30, with the U.S. Securities and Exchange Commission (SEC) initiating the review process for…

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