Ethereum$ETH popped back above $4,500 with a ~1.26% 24-hour gain, buoyed by spot Ether ETF net inflows, multi-year-low fees thanks to post-Dencun scaling, and constructive technical momentum. Near-term watch levels: $4,400–$4,450 support and the $4,700–$5,000 resistance band.

Why ETH is back above $4.5K

1) ETF bid is real (and lumpy).

U.S. spot Ether ETFs notched their strongest run in August, including a $1B single-day net inflow and multi-billion weekly totals, signaling persistent institutional demand—even if daily prints can flip between in- and out-flows. This institutional “floor” has helped ETH reclaim the $4.5K handle. ETF

2) Cheaper blockspace = more activity.

Post-Dencun (Mar 2024) data show ~95% lower average gas fees as L2s absorb throughput. Lower costs support usage, which tends to correlate with healthier fee burn during busy periods—supportive for ETH’s long-run economics.

3) Market structure favors ETH… for now.

With macro calm into late-August events and a catch-up trade versus BTC, flows have rotated toward ETH. Several desks frame the move as an “ETF + scaling” narrative rather than a one-off squeeze.

The state of play (today)

  • Spot price: ETH hovering around the mid-$4.5K zone during Asia hours.

  • 24h stat: Headlines flag a ~1.26% move as ETH crossed 4,500 USDT on Binance data.

  • On-chain economics: Burn rate is variable at today’s lower fees; supply can toggle slightly inflationary/deflationary depending on activity—key context for “ultrasound money” claims. Track in real time via ultrasound.money.


    Key levels traders on Binance are watching

  • Immediate support: $4,400–$4,450 (recent reclaim zone and near the 50-day area cited by technicians). Lose it, and $4,250–$4,300 is next.

  • Resistance band: $4,700 → $5,000. A clean daily close above $4,700 opens a run at the psychological $5K.

Catalysts next

  • ETF flow prints: Watch daily net inflow/outflow updates—momentum can swing fast and often drives intraday breaks of support/resistance.

  • Fees & L2 activity: Persistently low fees keep user growth sticky; spikes in activity (mints, DeFi rotations, L2 airdrops) can lift burn and narrative.

  • Macro headlines: A quiet dollar or dovish-leaning commentary can keep risk appetite intact for crypto beta.

Strategy notes (educational, not financial advice)

  • Momentum traders: Respect the $4,400–$4,450 pivot; trend remains constructive while above it. Look for strong spot ETF inflow days to confirm breakouts.

  • Range players: Fades near $4,700–$5,000 only make sense with weakening ETF prints and rising funding—otherwise momentum can squeeze through.

  • Long-term allocators: The pairing of institutional access (ETFs) and structural scaling (post-Dencun) is the core 2025 ETH thesis. Accumulation plans should still account for ETF flow volatility.

Bottom line

ETH’s reclaim of $4.5K isn’t just a headline pop; it sits on top of ETF-driven demand, cheaper blockspace, and constructive technicals. The battle now is whether buyers can convert $4.7K into support on the way to a clean $5K test. Keep one eye on daily ETF flow and one on fees/activity—that duo is steering the next leg.

RESOURCES:

Coinlive, The Economic Times, ETF Trends, Cointelegraph, TradingView, Ultrasound Money, Yahoo Finance

$ETH