Ethereum is once again catching the eye of investors, as its price reached around $4,810.80, close to its all-time high of $4,891.70.
BlackRock's Purchase as a Growth Lever
The main driver behind Ethereum's rise has been BlackRock's acquisition of ETH worth $233 million, confirmed by Arkham's latest data. This move by the largest asset manager indicates that cryptocurrency is becoming a key element of institutional investment.
Impact of ETFs and Market Liquidity
BlackRock's purchase was supported by significant inflows into ETFs. According to Lookonchain, over 64,700 tokens worth nearly $300 million flowed into ETFs within the last 24 hours, signaling growing trust among institutional investors. The futures market also saw over 1.5 lakh liquidations, which creates conditions for price growth.
Current Technical Situation and Forecasts
The current TradingView chart shows a strong upward trend for ETH, with large green candles indicating strong buying pressure and support levels at $4,600 and $4,200. Key resistance levels lie around $4,850–$4,900. Experts expect that in the short term, the price could test the $4,900–$5,000 range.
Ethereum's rally is driven both by institutional purchases and technical analysis. The market is focused on whether the price can surpass the $5,000 mark, which represents the next significant milestone for the cryptocurrency.
