Price performance: Ethereum's price increased by 22% over the past week, briefly reaching $4,300, the highest level since November 2021. This rise is supported by the enthusiasm of retail investors, institutional accumulation, and reduced supply due to staking.

Currently, Ethereum is trading around approximately $4,224.84 with a slight decrease of -0.59% over the past 24 hours.

Forecasts indicate targeting resistance levels at $4,391, $4,533, reaching up to $4,712, with the potential to reach $5,000 in the coming months if the upward momentum continues.

Network Activity:

The Ethereum network recorded the highest level of daily active addresses in two years, with 841,100 addresses, reflecting a significant increase in activity on the blockchain.

More than one million Ethereum (worth about $3.8 billion) were withdrawn from centralized exchanges over the past month, indicating a shift by investors towards long-term storage and reducing selling pressure.

Exchange-Traded Funds (ETFs):

Ethereum ETFs have seen strong inflows, collecting $65.14 million on July 28 and a total of $5.1 billion during July, reflecting institutional confidence.

The U.S. Securities and Exchange Commission has approved the use of Ethereum directly to create and redeem ETF shares, enhancing liquidity and adoption.

Technical Analysis:

The price is trading within an upward channel, with support at $3,680-$3,700 and resistance at $3,960. The Relative Strength Index (RSI) is at 70.6, indicating strong momentum but close to the overbought zone, which could lead to a short-term correction to $4,088 or $3,972.

Elliott Wave analysis forecasts a continuation of the upward trend towards $4,105.

Market Sentiment:

Retail investors are leading the upward wave, with an increase in positive hashtags like #Bullish on social media, but excessive optimism could lead to temporary pullbacks.

Institutions, including BlackRock and Fidelity, are investing heavily in Ethereum products, supporting positive expectations.

Future Expectations:

Forecasts indicate that Ethereum could reach $5,000-$5,800 by the end of 2025, with more optimistic projections reaching $8,900 in 2026.

In the long term (2030-2050), the price could reach $13,500-$39,421 by 2030, and between $92,704-$244,555 by 2050.

Recommendations for those looking to invest:

  • 1. Long-term investment:

    • Buy at support ($3,680-$3,700) using dollar-cost averaging.

    • Store in a cold wallet for security.

    • Forecast: $5,000-$5,800 by the end of 2025.

  • 2. Short-term trading:

    • Buy: at $3,680-$3,700, stop loss below $3,600.

    • Sell: target $3,960 or $4,105.

    • Risks: do not expose more than 1-2% of capital.

  • 3. Other options:

    • Invest in Ethereum ETFs.

    • Stake for 4-7% annual returns.

  • Risk Management:

    • Monitor volatility and whale activity.

    • Always use stop-loss.

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