Ethereum (ETH) Price Today: Ethereum’s Rally to $4,200 Draws Institutional Interest with New All-Time High in Sight
The post Ethereum (ETH) Price Today: Ethereum’s Rally to $4,200 Draws Institutional Interest with New All-Time High in Sight appeared on BitcoinEthereumNews.com. Ethereum (ETH) surged past the critical $4,000 mark this week, reaching $4,200 on major exchanges like Binance—its highest level since December 2021. The strong rally has reignited optimism among traders and investors, fueled by significant short liquidations and rising institutional interest. Market watchers are now eyeing a possible breakout toward the next major milestone near $4,500. ETH Price Movement and Market Drivers After breaking through the $4,000 resistance on August 8, Ethereum quickly gained momentum, climbing 7% within the next 24 hours. This surge was supported by over $207 million in short liquidations, predominantly wiping out bearish bets and pushing buying pressure higher. Ethereum (ETH) has been trading at around $4,212, up 6.15 % in the last 24 hours at press time. Source: Ethereum Liquid Index (ELX) via Brave New Coin Miles Deutscher, a prominent crypto analyst, highlighted the “on-chain wealth effect” driving the rally: “As Ethereum’s price rises, holders—both retail and institutional—see their portfolios become profitable, encouraging capital rotation into riskier altcoins.” Deutscher outlined a potential three-stage market rotation, beginning with an ETH-led altcoin season, then shifting toward Bitcoin, and finally returning to Ethereum for a potential blowoff top. Meanwhile, Michaël van de Poppe cautioned about the risks of buying at elevated prices but acknowledged Ethereum’s strong setup toward a possible all-time high. He noted that “allocating capital within the Ethereum ecosystem might yield better returns if the momentum holds.” Technical Overview: Signs of Consolidation Amid Strength Technically, Ethereum’s chart shows bullish strength but a temporary pause. On the daily chart, ETH went up steadily from around $2,488 at the beginning of the year to over $4,200. The jump over $4,000 was preceded by massive jumps in volumes, nearly doubling average daily volumes, showing strong buying sentiment. Ethereum’s Wave 3 momentum continues strong, fueling widespread excitement as the potential…
The post Ethereum (ETH) Price Today: Ethereum’s Rally to $4,200 Draws Institutional Interest with New All-Time High in Sight appeared on BitcoinEthereumNews.com.
Ethereum (ETH) surged past the critical $4,000 mark this week, reaching $4,200 on major exchanges like Binance—its highest level since December 2021. The strong rally has reignited optimism among traders and investors, fueled by significant short liquidations and rising institutional interest. Market watchers are now eyeing a possible breakout toward the next major milestone near $4,500. ETH Price Movement and Market Drivers After breaking through the $4,000 resistance on August 8, Ethereum quickly gained momentum, climbing 7% within the next 24 hours. This surge was supported by over $207 million in short liquidations, predominantly wiping out bearish bets and pushing buying pressure higher. Ethereum (ETH) has been trading at around $4,212, up 6.15 % in the last 24 hours at press time. Source: Ethereum Liquid Index (ELX) via Brave New Coin Miles Deutscher, a prominent crypto analyst, highlighted the “on-chain wealth effect” driving the rally: “As Ethereum’s price rises, holders—both retail and institutional—see their portfolios become profitable, encouraging capital rotation into riskier altcoins.” Deutscher outlined a potential three-stage market rotation, beginning with an ETH-led altcoin season, then shifting toward Bitcoin, and finally returning to Ethereum for a potential blowoff top. Meanwhile, Michaël van de Poppe cautioned about the risks of buying at elevated prices but acknowledged Ethereum’s strong setup toward a possible all-time high. He noted that “allocating capital within the Ethereum ecosystem might yield better returns if the momentum holds.” Technical Overview: Signs of Consolidation Amid Strength Technically, Ethereum’s chart shows bullish strength but a temporary pause. On the daily chart, ETH went up steadily from around $2,488 at the beginning of the year to over $4,200. The jump over $4,000 was preceded by massive jumps in volumes, nearly doubling average daily volumes, showing strong buying sentiment. Ethereum’s Wave 3 momentum continues strong, fueling widespread excitement as the potential…
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