$ETH

increases its value due to strong institutional accumulation

Market Overview

• ETH is trading around $3,697 after an impressive rise of 54.83% in July and a recent rebound of 25%

• It has stabilized in the range of $3,500-$3,800 with strong inflows in ETFs ($5.41B in July, $2.3B last week)

• Institutional buying peaked at 46,553 ETH (July 30-31) with a positive net inflow of 13,488 ETH on August 4

• Technical indicators show mixed signals: RSI overbought (73.3%) but MACD remains bullish (76% accuracy)

Key Factors

• Institutional adoption accelerating: SharpLink Gaming bet 41,452 ETH; two wallets accumulated $183.57M

• Regulatory clarity improving: The SEC approved in-kind creations for ETH ETPs; the Senate is discussing crypto reforms

• On-chain strength: 1M+ ETH withdrawn from exchanges indicates strong hodling behavior

• Supply dynamics changing: the burn rate is slowing down with a net supply increase of 17,333 ETH

Trading Implications

• Critical levels: $3,500 (support), $3,800 (resistance), with a target of $4,000 if a breakout occurs

• Long/short ratio distorted (23.08-27.27) suggests continued institutional accumulation

• Strategic opportunities: take advantage of dips towards $3,500-3,600 to enter; monitor ETF inflows for timing

• Pay attention to a possible correction due to overbought conditions even though fundamentals are strong

Market Sentiment

• Analyst projections range from $8,000-$9,000 based on supply constraints and ETF momentum

• High-profile endorsements are amplifying attention in the mainstream

• Concerns about the slowing burn and regulatory developments in the EU remain points to watch

• Overall sentiment remains clearly bullish despite overbought technical conditions