Key Takeaways:
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Record Ethereum ETF Inflows and accumulation of ETH Corporate Treasury can drive demand to break $ 4,000.
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Increasing network activity and Ethereum TVL metrics signal strong demand.
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Eth Bull Flag Breakout targets $ 5,000.
Ether (Eth) is approaching a critical juncture as it approaches the $ 4,000 level of resistance, a barrier that has failed to violate three times since February 2024.
At this time, however, many converting factors, including strong ETF flow, stable network activity, and desirable technical charts, suggesting a success can be close.
“With $ 4,000 now within the arm reaches, the big question is: Will Ethereum be destroyed or destroyed?” Says Famous Defipeniel’s analyst in a post of July 22 at X.
According to the analyst, reducing ETH supply to exchanges, increasing staked eth post-Upgrading ShanghaiAnd the high demand of ETF provides a “cocktail of bullish energy” required to push Eth past $ 4,000.
Large ETF Inflows and Treasury’s Demand
The interest of the institution in the ETH has increased dramatically in recent weeks, driven by record-breaking and adoption of corporate treasury.
The area based in the US Ethereum ETF has seen unscrupulous demand, including Single-day flows reaching a record of $ 727 million On July 16 and combined -with the net flow that exceeded $ 9.33 billion from them July 2024 Launching.
Related: Sharplink bought $ 295m at ETH – mainly ether issued last month
These investment products continue to show strength, drawing $ 452.72 million on net inflows on Friday and expanded their flowing on 16 consecutive trading days, according to Data from Sosovalue.
Blackrock’s Etha ETF only holds $ 10.69 billion worth, a stash that grows at a fast pace, reflecting institutional confidence. Flows in ETH ETFs also have Outpaced Bitcoin ETF For seven days later, which suggests the ether capital.
This Flowing of capital has moved Ethereum’s role from an imaginary owner to a major institutional handling, with companies such as Blackrock and Fidelity Filing for staked eth ETFs to achieve the opportunities that make up the yield.
ETH continues to grow as a corporate treasury reserve asset, with Bitmine’s Immersion technology buying ETH Worth $ 2 billion in the past 16 dayswho pushed the company to become the largest holder of the ETH corporation.
Currently, Ethereum Treasury companies hold 2.33 million ETH, which costs 1.93% of the transferring eth According to in strategic ether reserves.
Galaxy Digital CEO Michael Novogratz predicts that the ETH price will reach $ 4,000Adding that ETH will exceed BTC over the next six months.
Ethereum network activity shows strength
The foundations of the Ethereum network are near record highs, with sun -average transactions that climb 1.62 million on July 25 from 932,000 in the past three months, representing a 73% increase, as per each Data From Nansen. Daily active addresses rose to a 12-month high of 670,000 on Saturday.
The average weekly transaction count rose to a full time high of 10.07 million last week while Dex’s weekly volume rose to a 21-week high of $ 22.54 billion, according to data from Delete.
The Total amount that is locked In Ethereum’s defi protocols have returned to the highest level since 2022 to $ 86 billion, getting 61% of market sharing.
Meanwhile, meanwhile Balance in exchanges has dropped up to 15.6 million eth, a level last seen before the 2017 rally, as per glassnode Data. These dynamics suggest a potential supply squeeze that can help promote ETH prices towards new hours.
Ether price flag targets $ 5,000
ETH/USD pair is well positioned to resume its gains after breaking a bull pattern In the four -hour chart, as shown in the figure below.
The pattern was resolved when the price was closed above the upper border of the flag at $ 3,740 (where the 50-per-period SMA was currently sitting) on July 26, which signed the start of an upward move.
The height of the flagpole sets the target, with Ether price projects rising to $ 5,000 as soon as possible next month, a 30% increase from the current price.
The KaMag -Kaba -child index -child -child also shows bullish cues, moving within a positive region at 61. This suggests that the price may be higher before the conditions of excessive thinking.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
