Ethereum (ETH) is on fire — trading at $4,306.47, up an astonishing 53.53% in recent weeks and inching toward its 2021 all-time high of $4,891.70. The rally pushed ETH’s market cap to $518.4 billion, overtaking Mastercard, with a staggering $37.4B daily trading volume.
This surge comes after a string of bullish events: the SEC officially declared Ethereum a non-security on August 1, paving the way for institutional money. The Cboe’s new ETH ETF proposals could see $8 billion in inflows within 90 days, and the upcoming Fusaka upgrade promises major scalability and security improvements.
Big players are buying in — one whale just scooped up 65,001 ETH. Market sentiment is glowing, with 87.17% bullish indicators and Ethereum dominance climbing to 12.57%.
Still, traders are eyeing short-term caution. The RSI at 70.7 suggests overbought conditions, with key resistance at $4,300-$4,333 and support at $4,163 and $3,760. Analysts’ short-term targets sit between $4,500-$5,000, though some bold calls point to $15K-$20K in the coming years.
Whether you’re taking profits or buying dips, one thing is clear — Ethereum’s momentum has never looked stronger.
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