Ethereum continues to demonstrate strong performance, having achieved a breakout above key resistance levels and showing increasing interest from institutional investors.
Breakout and Level Testing
Ethereum has confirmed a breakout above the $4000–$4800 resistance zone, as noted on the weekly chart. Analysts like Merlijn The Trader have observed that Ethereum has hit the target levels of $4000 and $4800, suggesting the end of the accumulation phase and the start of the expansion phase.
Rise in Institutional Investments
According to Bloomberg Intelligence, total institutional ETF exposure to Ethereum now exceeds $2.44 billion, with the largest share held by investment advisors at $1.35 billion. This trend reflects growing interest from traditional financial institutions and puts additional pressure on the circulating supply of ETH.
Whale Accumulation Trends
On-chain data shows aggressive whale accumulation during the recent rally. A newly created wallet acquired $164 million in ETH, while Bitmine added $427 million. The current price of Ethereum stands at $4656.26, showing slight gains and confirming bullish market sentiment.
Despite market volatility and changes, Ethereum's breakout above $4800 and rising institutional interest create a foundation for further growth and development of this cryptocurrency.
