๐ Price & Sentiment
โข $ETH is trading around $4,289, down 3.27% in the past 24h, slipping below the $4,300 mark as part of a wider market correction.
โข Market tone: Short-term bearish due to selling pressure, though ETH still shows a +4.5% gain on the week, hinting at underlying strength.
๐ Whales & Institutions
โข Heavy Buying: Large holders and funds scooped up more than 130K $ETH ($470M+) recently, signaling strong long-term confidence.
โข ETF Flows: Spot ETH ETFs saw $2.85B inflows this week, underscoring growing institutional participation.
๐ Technical Setup
โข Key Support: $4,245 remains a critical zone. A drop under $3,845 could open the door to deeper losses.
โข Resistance Zone: $4,793โ$4,900 (the 2021 all-time high). Breaking through could set the stage for a rally above $5K.
โข Momentum: RSI sits at 66.86, near overbought territory, suggesting ETH may consolidate before its next move.
โ๏ธ Drivers & Risks
โข Bullish Factors:
โข Expanding Layer 2 activity (Arbitrum, Optimism) continues to boost ETH adoption.
โข High probability (84.6%) of a Fed rate cut in September could lift risk-on assets like crypto.
โข Bearish Risks: Regulatory uncertainty and profit-taking by spot traders remain concerns.
๐ Short-Term View
$ETH is facing turbulence near the $4,900 resistance zone. If $4,245 support holds, ETH could rebound toward $5,500 later this month. However, a breakdown risks a slide toward $3,355โ$3,800.
โธป
๐ Key Levels to Watch
Zone Price ($) Relevance
Resistance 4,793โ4,900 2021 ATH zone โ breakout level for bulls
Support 1 4,245 Bullish channel- support; potential - bounce area
Support 2 3,845 Breakdown risk; - deeper downside if lost
Q4 Target 15,000 Long-term whale & institutional - projection
$ETH | Current: $4,276.9 (-5.72%)
#ETHStakingExitWatch #PowellWatch
