🚀🚀🚀 Ethereum update 🚀🚀🚀
Quick Summary
ETH is trading around $4,625, up roughly 7.8% today, riding a strong institutional wave.
Record $1.01 billion poured into ETH ETFs today — largest in a single day.
On-chain whale activity: a huge wallet bought $1.34 billion in ETH over 8 days.
ETF and corporate reserves now control close to 8% of ETH supply.
Technicals are strong: many indicators signal Buy/Strong Buy, but some show overbought, suggesting consolidation or mild pullback ahead.
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Today’s Top Drivers
1. Institutional Inflows & Whale Buys
A record $1.01 B in ETF inflows mainly from BlackRock, Fidelity, etc. contributed to the price surge over $4,400→$4,625.
A mysterious wallet scooped up $1.34 B in ETH over 8 days, likely OTC or institutional accumulation.
2. Supply Tightening
ETH ETFs and corporate treasuries now hold ~8% of total supply, up from ~3% in April.
Major treasury firms like BitMine Immersion, SharpLink Gaming also adding to holdings.
3. Technical Momentum
Almost every major indicator (RSI, MACD, ADX, CCI, Stochastics) is in Buy/Strong Buy territory.
Price is dramatically above all EMAs—5/20/50/100/200—indicating a strong uptrend, but RSI (~68-76) signals overbought conditions.
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Technical Snapshot
Indicator Reading Note
RSI (14) ~68–76 Overbought → possible pause
MACD Strong-buy Momentum solid
ADX ~50+ Strong trend
Stochastics ~70+ WARN Overbought
ATR/Daily Range ~4–5% High volatility
Support zones:
Short-term: $4,400 – $4,500
Deeper levels: $4,200 → $4,000 if key support gives way
Resistance levels:
Immediate hurdle: $4,700 – $4,800 (all-time high zone)
Next stretch: $5,000+ if momentum holds
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What It Means
✅ Bull case: As long as ETH stays above the $4,400–4,500 zone, it's trending upward. A clean break above $4,700 with ETF/whale momentum could open the path to $5,000+.
⚠️ Caution: Overbought readings could trigger short-term consolidation or mild pullback to $4,500 or even $4,200.
