Ethereum continues to demonstrate a bullish structure, successfully overcoming significant technical resistances and showing growth due to interest from institutional investors.
Ethereum Defends Important Levels
This week, Ethereum (ETH) successfully tested support levels, maintaining above the upper Fair Value Gap (FVG) around $3,600. This successful retest confirms market confidence as the price remains stable above these levels.
Confirmed Institutional Demand
On-chain data indicates that large holders are actively accumulating Ethereum. Since July 7, nine wallets have added 614,000 ETH, equivalent to over $2.1 billion. This aggressive buying indicates growing interest from institutional investors.
Support Levels and Future Movement
Recent charts show support levels at $3,350 and $3,150. As long as the price remains above these key levels, the bullish structure stays intact for further increases. The current price of Ethereum is $3,732.13, reflecting a 2.91% rise over the past 24 hours.
By maintaining its position above key levels, Ethereum shows potential for further growth, supported by both technical signals and market activity.
