Eth

$ETH Breakthrough 4600 Strong Return!
1. Ethereum is experiencing a strong price increase, rising 8.42% in the past 24 hours, thanks to significant institutional demand, including record ETF inflows and corporate treasury acquisitions.
Institutional Demand: Ethereum is witnessing strong institutional interest, with the US spot Ethereum ETF recording a daily trading volume of $2.7 billion and $1.019 billion in inflows on August 11. Major corporate treasuries such as BitMine and SharpLink are actively accumulating ETH, purchasing billions of dollars in assets.
Bullish Momentum: The price of ETH surged from $4,310 to $4,647 in the past 24 hours, showing strong bullish momentum. The 7-period EMA ($4,599.68) is above the 25-period EMA ($4,480.21) and the 99-period EMA ($4,271.26), indicating a strong upward trend, accompanied by a significant surge in trading volume.
Ecosystem Expansion: The daily trading volume on the Ethereum network reached a one-year high (1.74 million transactions). The US Securities and Exchange Commission (SEC)'s clarification on the regulation of liquid staking products has boosted market confidence, while large corporations like Stripe are developing Ethereum-compatible blockchain solutions, further driving growth.
Risks
1. Overbought Conditions: The Relative Strength Index (RSI) for ETH shows that it is currently in an overbought condition, with the RSI6 at 76.47 and RSI12 at 74.59. This indicates that the asset may experience a short-term price correction or consolidation after a rapid increase recently.
2. Whale Sell-Offs: A wallet associated with the Ethereum Foundation recently sold 4,095 ETH (worth $18.75 million), while early Bitcoin evangelist Erik Voorhees sold 6,581 ETH ($27.38 million). These large holders' sell-offs could exert downward pressure on the price.
3. Macroeconomic Headwinds: The unexpected rise in the US Core PCE Price Index (Supercore CPI) suggests that interest rates may remain high for an extended period. This could diminish the attractiveness of risk assets like cryptocurrencies, leading to a shift of funds toward safer, interest-bearing investments.
#创作者任务台 @Ethereum $ETH