Market Momentum
• ETH reached $4,673.80 (up 4.86%), continuing its impressive rally from $3,461.49 on August 3
• Daily active addresses peaked at 841,100 (one-year high), signaling robust network activity ahead of the price surge
• Trading alongside Bitcoin ($120,000) and BNB ($830), indicating broad cryptocurrency market strength
Key Growth Drivers
• Institutional capital flow accelerating with ETF inflows exceeding $1 billion in a single day
• Favorable inflation data easing monetary policy concerns and directing capital to crypto assets
• Technical advances including Layer 2 scaling and upcoming Danksharding enhancing fundamentals
Trading Strategy Outlook
• Technical indicators show overbought conditions (RSI: 79) but MACD confirms strong momentum
• New support zone established at $4,400-$4,600, providing potential strategic entry points
• Short-term price target range: $4,800-$5,200 within 1-2 months
• Long-short ratio at 52.63% long positions reflects sustained bullish sentiment
• Regional price variations (Americas: 298.49, Europe: 215.72) creating arbitrage opportunities
Market Sentiment
• Mainstream attention growing as public figures engage with Ethereum's performance
• On-chain metrics suggest network vitality continues to strengthen
• Traders should monitor potential consolidation while maintaining bullish long-term outlook
