Nội dung cột [Title]
Nội dung cột [Content]
Nội dung cột [Time]
Ethereum Ethereum eth 3.33%
Ethereum token retreated to $4,410 on August 16, down over 10% from its highest point this week. It remains 217% above the lowest level in April, and its strong fundamentals and technicals point to a 55% surge
Ethereum token retreated to $4,410 on August 16, down over 10% from its highest point this week. It remains 217% above the lowest level in April, and its strong fundamentals and technicals point to a 55% surge
Similarly, Ethereum’s stablecoin growth has accelerated recently. Its stablecoin supply has increased by 10% over the last 30 days to $144 billion, while the number of addresses has risen by 30% to 2.6 million.
Ethereum price pulled back for three consecutive days, down nearly 10% from its weekly high — but inflows into ETH funds and growing network activity suggest the token’s rally may be far from over.
ETH ETFs now hold $30 billion in assets, with BlackRock’s ETHA leading the way with $15.9 billion. Its daily traded volume on Friday surged to $2.4 billion, a sign of the rising demand. The other top Ethereum funds are from Grayscale, Fidelity, and Bitwise.
Ethereum price technical analysis
The daily timeframe chart shows that ETH price has been on a bullish momentum after bottoming in April. This surge happened as the ETF inflows and ecosystem growth gained momentum.
ETH formed a golden cross in July, confirming the bullish momentum. Most importantly, it formed a cup-and-handle pattern with a depth of 68%.
Measuring the same distance from the cup’s upper side yields a target of $6,840, which is approximately 55% above the current level.
American institutional and retail investors continued accumulating Ethereum this week. SoSoValue data shows that these funds added $2.8 billion, much higher than Bitcoin’s Bitcoin btc 0.77%
Bitcoin $547 million. It was the fourth week that Ethereum ETFs added more money than Bitcoin.
Bitcoin $547 million. It was the fourth week that Ethereum ETFs added more money than Bitcoin.
However, in the near term, Ethereum price will likely retest the support at $4,110 and then bounce back. This pattern is known as a break-and-retest. It occurs when an asset breaks out above a crucial resistance level, retests it, and then resumes its bullish trend.
Ethereum price eyes 55% surge as the 14-week ETF accumulation continues
Ethereum ETF inflows surge
Ethereum ETFs have added assets because of its robust growth across various areas in the crypto industry. It maintains a 68% market dominance in the decentralized finance industry, with its total value locked jumping to $203 billion.
Ethereum’s average transaction volume soared to $878 billion in the same period, much higher than Tron TRON trx -0.52% TRON $664 billion.