key takeaways:
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Eth Price closed 4 years high -weekly at $ 4,475, run by ETF inflow and high network activity.
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A major support area for ether sits between support at $ 4,000 and $ 4,150.
The Ether (ETH) price after the Ether/USD trading pair was shut down from November 2021, the Ether (ETH) price hit another milestone to this cycle.
Ether completes the best week in four years
Ether shut down the week at $ 4,475 on August 13, according to cointelegraph markets pro and data of Tradingview Confirm.
This significant milestone follows a breakout above $ 4,000 resistance level, which was since 2021, indicating a strong speed speed.
One of the reasons for this is the Etharium ETF with mass flow in the previous month, and a record of $ 1.02 billion on August 11 alone. These flows are led by Blacrock’s etha, now more than $ 12.6 billion, per total Statistics from Ferrside investors,
Connected: Ether trader turns to $ 125k $ 43m, lock in $ 7m after market fall
According to Cryptoctive data, Blackrock is now more than half of all ETF holdings.
“Blackrock’s eTha now makes 58.03% of all Etreum ETF, holding 3,490,450 Eth on a large scale in its purse,” Said Cryptoctive analyst Burksisisi, adding in Monday’s Quicktech analysis:
“This speed reflects a clear ETF-powered rally in the atherium, led by Blackrock’s dominance in the market.”
According to coinshares, the capital flow in exchange-traded products (ETPS) dominated last week. The stream in ETH investment products was $ 2.9 billion in total, marking strong institutional investors for the top altcoin.
Corporate Treasury with 69 institutions, $ 17.3 billion organized in Eth (3.4% supply), also add procurement pressure.
The demand for ETH is also reflected in high network activity, according to the record 1.74 million daily transactions, on August 5 with the amount of transaction. Data from Nansen,
In July, more than 46.67 million transactions were recorded, fuel was given by stabechoin transfer, DEFI and layer 2 growth.
Eth value level to see this week
As the ET trades at $ 4,300, many major value levels pay additional attention based on technical analysis and market dynamics.
The immediate support area is around $ 4,100 to $ 4,000, a limit that previously served as a stubborn resistance in 2021, but is now flipped into a significant support area.
This level aligns with a 20-day exponential moving average (EMA) at $ 4,140, and $ 4,150 is the major support, where 341,000 eth tokens were accumulated, per, per, per, per, per, Glasanode cost base distribution heat,
“As long as the weekly close holds the $ 4K-$ 4.25k area, I consider Dips as a consolidation,” Said Popular analyst Demi-Deffi in the August 18 post on X, saying that a weekly closed $ 3,650- $ 3,750 may trigger “deep drop” in the area.
Inverted, the analyst stated that a weekly one weekly above $ 4,550 may confirm the brakeout in the new all-time high with targets between $ 5,000 and $ 5,800.
“I live fast while $ 4.15k+ is weekly.”
There are no investment advice or recommendations in this article. Each investment and business move include risk, and readers should conduct their own research while taking decisions.
