The main dishes to remember:
-
Eth Price has reached a weekly fence at 4 years at $ 4,475, driven by ETF entries and a high network activity.
-
A key support area for Ether is between support at $ 4,000 and $ 4,150.
The price of ether (ETH) has taken another step in this cycle after the ETH / USD trading pair has reached its highest weekly closure since November 2021.
Ether ends the best week in four years
Ether closed the week at $ 4,475 on August 13, according to Cointelegraph Markets Pro and TradingView data confirms.
This important step follows an escape above the level of resistance of $ 4,000, which had been in place since 2021, signaling a strong bullish dynamic.
One of the reasons is the ETHEREUM SPOT ETF with massive entries in the last month, and a record of $ 1.02 billion on August 11 only. These entries are led by Blackrock’s Etha, now totaling more than $ 12.6 billion, according to data from Farside investors.
In relation: Ether Trader transforms $ 125,000 into $ 43 million, locks $ 7 million after the market slowdown
Blackrock now holds more than half of all Holdings ETH, according to cryptocurrency data.
“The ETHA of Blackrock now represents 58.03% of all ETHEREUM ETHERE, holding 3,490,450 ETH in its portfolios,” said Burakkesmeci, cryptocurrency analyst in a Quicktake analysis on Monday, adding: adding: adding: adding: adding: adding: adding: adding: adding
“This momentum shows a Clear ETF rally in Ethereum, led by the domination of BlackRock on the market.”
The ether continued to dominate capital entries in the products negotiated on the stock market (ETPS) last week, according to Coinshares. Eth’s investment products inputs have totaled $ 2.9 billion, marking a strong appetite for institutional investors for the first Altcoin.
The vouchers of the corporate, with 69 entities holding $ 17.3 billion in ETH (3.4% of the offer), also add to the purchase pressure.
ETH’s request is also reflected in a high network activity, the transaction volume reaching a record of 1.74 million daily transactions on August 5, according to Nansen data.
More than 46.67 million transactions were recorded in July, powered by stablecoin transfers, the growth of layer 2 of layer 2.
ETH price levels to watch this week
As the ETH is negotiated at $ 4,300, several key price levels guarantee special attention, based on technical analysis and market dynamics.
The immediate support zone is between $ 4,100 and $ 4,000, a range which previously acted as obstinate resistance in 2021 but which has now returned to a critical support area.
This level is aligned with the 20 -day exponential mobile average (EMA) at $ 4,140, and $ 4,150 is a key support, where 341,000 ETH tokens have been accumulated, by heat distribution distribution card.
“As long as the weekly fence holds the region from $ 4,000 to $ 4.25,000, I treat DIP as a consolidation,” said popular analyst half–debi in an article on August 18 on X, adding that a weekly fence below $ 4,150 could trigger a “deeper drop” in the region of $ 3,650 to $ 3,750.
Uplining, the analyst said that a weekly fence greater than $ 4,550 could confirm an escape in new peaks of all time with objectives set between $ 5,000 and $ 5,800.
“I remain optimistic while $ 4.15K + holds every week.”
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.