$ETH 🚀 Ethereum Tests $4.7K as Bulls Eye New Highs Amid Institutional Surge!
The ETH/USDT pair is trading at $4,715 (as of Aug 26), consolidating near key support after a brief pullback from its $4,950 weekly high. Despite a -5.25% 24h dip, Ethereum’s $553.94B market cap and $67.85B 24h volume signal unwavering institutional interest, with Binance dominating liquidity.
Key Drivers:
Technical Resilience: ETH holds above critical support at $4,700 (20 EMA). A break below could target $4,530 (Fibonacci 0.382 level), while resistance looms at $4,850–$4,920.
Institutional Demand: Spot Ethereum ETFs now hold 5.1% of ETH’s supply ($26.7B), creating a supply squeeze.
Macro Tailwinds: Fed rate cut optimism and declining exchange reserves fuel long-term bullish momentum.
Pro Tip: Accumulate near $4,700. A close above $4,750 could retest $5,000.
🔔 Will ETH shatter $5K this week? Stay tuned!
*Trade responsibly!* 🚀
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