Ethereum Poised too Break $4,800 Soon?
Ethereum is currently hovering around $4,295, eyeing a significant move to $4,800 and possibly beyond. Here’s what’s driving this bullish sentiment.
Eth spot ETFs have seen significant inflows recently. From August 6 to August 14, nearly $3.7 billion poured in, with $640 million alone on August 14. Despite a small outflow on August 15, the overall trend remains bullish.
Another positive factor is the market rotation. Ethereum’s strength is fueling altcoin gains, while Bitcoin’s dominance has dipped to about 59%. This shift bodes well for Ethereum.
- ETF demand keeps rising, receiving tens of billions sence spring.
- Technical indicators suggest Ethereum could reach $4,800 if it holds above $4,450.
- Capital is moving into major coins as ETH’s position strengthens versus Bitcoin.
Technically, Ethereum’s climb above $4,450 puts focus on $4,700-$4,800, near its last all-time high. If it dips below $4,150, however, a retest might follow.
Ethereum’s short-term outlook is promising. A sustained hold above $4,450 and resumption of ETF inflows could soon push prices toward $4,800. For now, investors should watch these levels closely.
