Ethereum (ETH) is close to a milestone of $ 4,000 and has been improved by a complete factor storm, including a surge in volume, institutional interest and optimistic technical signals.
On August 7, ETH was supported by a powerful chain metric for $ 3,718. According to the recent data, Ether Leeum has handled the highest 18.7 million transactions in history, which is led by the use of stable coins, mainly by Defi activities of platforms such as USDC and tethers and uniswap.
This surge follows the passage of the US genius law. The passage of the US Genius Act provided a regulatory clarity for Staybles and opened a way for greater adoption and institutional investment. The role of Ether Lee as the backbone of Defi continues to be strengthened, and the network of Stablecoin on the network has exceeded $ 50 billion last week alone.
The optimistic chart pattern of Ether Leeum (ETH) suggests that $ 4,000 may be next.
Technical analysts now emphasize optimistic penant formation on Ethereum's charts, which can be confirmed to promote assets to $ 4,000.
As explained by experts, this pattern moves to a sharp price, follows the integration stage and usually draws different legs upwards.
In addition, Ether Lee has triggered the “Golden Cross”, which has a 20 -day 20 -day moving average beyond the 200 -day moving average.
If ETH is decisively accounted for more than $ 4,100, analysts can predict significant evacuation and increase the price to $ 5,000 before the end of the year.
ETH's price trends to the upside on the daily chart eyeing the key level at $4,100. Source: ETHUSD on Tradingview
Altcoin exercise and institutional demands induce market surge.
Etherrium is not separated. Bitcoin's dominance has decreased, leading a wider Altcoin rally, which has recently fallen to about 60%. According to CMC data, Ethereum's market share is now more than 11.9%and ETH ETF has been in the net inflow for 19 consecutive days.
In addition, the company's ETH Treasury surged 127.7% last month, signing a long -term asset with trust in Ether Leeum.
In spite of short -term volatility, analysts began to lead the next step of the encryption bull market as strong staying returns, deflation dynamics and institutional interests increased.
CHATGPT in TradingView, cover image of ETHUSD chart
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