Wang Pang combines the latest data on ETH to provide analysis and reference based on technical aspects, funds, and macro factors:
On the morning of August 30, ETH briefly fell to $4300, down 1.44% for the day, and later rebounded to around $4335. This is a technical adjustment following the new high of $4956 on August 24. Although it is a bit weak in the short term, the overall trend for this month is still upward, with an increase of about 17% in the past month.
In terms of technical indicators:
Short-term moving averages like the 9-day EMA are flattening, and the 20-day EMA (around $4075) can still provide support, but the price is below the 50-day and 200-day moving averages, indicating short-term pressure.
The MACD is in the negative zone, with bears in control, but the histogram is narrowing, suggesting that selling pressure may decrease.
The RSI is at a neutral level of 50-55, not overbought or oversold, indicating a relatively balanced market.
In terms of funds and sentiment:
ETF inflows are impressive, with a net inflow of $1.83 billion in spot ETH ETFs over the past five trading days, compared to just $171 million for Bitcoin ETFs. BlackRock and others saw a single-day inflow of $233.6 million in ETHA, accounting for 81% of that day’s total.
Companies are increasing their positions, such as BitMine Immersion holding 1.71 million ETH ($7.9 billion), with total corporate holdings at $10.1 billion. Large whales also transferred $1.2 billion from Bitcoin to ETH, indicating institutional confidence in long-term value.
Although there are 1 million ETH queued for withdrawal from staking, ETF inflows can absorb selling pressure. The network transfer volume in August exceeded $320 billion (a new high since May 2021), and the number of active addresses ranked second in history.
Wang Pang's operational advice: Lightly long near 4388.68—4391.89, with a target of 4448.89—4489.68. Finally, a reminder: the market is volatile, maintain defenses, and preserving principal is key to having opportunities. #ETH🔥🔥🔥🔥🔥🔥
