• • $ETH is trading at $4,410.10 (+0.51%), with a market cap of $530.49 billion

• • 29.5% of the supply (35.3 million ETH) is locked in staking, showing long-term confidence

• • Technical indicators are mixed: the MACD is positive, and the RSI is approaching overbought territory

• • The $4,000 level remains a key support with institutional accumulation below this level

Institutional momentum

• • ETH ETF funds attracted inflows of $3.7 billion over 8 consecutive days, outperforming Bitcoin ETF funds

• • Standard Chartered has raised its price forecast for ETH in 2025 to $7,500

• • The executive order allowing the use of cryptocurrencies in retirement plans (401(k)) enhances institutional adoption

• • BlackRock leads institutional investments in ETF funds

Nearby challenges

• • The validator exit queue has increased with the price rise, indicating profit-taking

• • The latest liquidation value was $170 million (81.76% of it in long positions)

• • The price returned to $4,415 despite positive institutional momentum

• • Order flow imbalances and RSI readings indicate a potential pullback

Trading outlook

• • Monitor the range of $4,000 to $4,500 for key price movements

• • A breakout above $4,800 could indicate a path towards $5,000

• • Institutions are likely to continue buying the dips, supporting positive long-term outlooks

• • Consider managing risk more carefully due to volatile conditions and increasing exit queues#EHT #EHTFI #Binance #EarnFreeCrypto2024 #bitcoin $ETH