Ethereum Don Reach Four-Year High Weekly Close For $4,475
Ethereum (ETH) con close di week for $4,475, dis na im highest weekly close for four years. Strong ETH price momentum come after e break through di old $4,000 resistance level. Institutional capital come join, especially through record spot Ethereum ETF subscriptions, wey boost di rally. BlackRock ETHA product dey hold over 3.49 million ETH, wey be 58% of all ETH ETF assets. CoinShares data show say $2.9 billion flow into ETH investment products every week, plus corporate treasuries hold total $17.3 billion ETH. Network activity still dey high, daily transactions reach 1.74 million on Aug 5 and total July transactions reach 46.7 million. Technical analysis don mark key support zone between $4,000 and $4,150, wey align with 20-day EMA around $4,140 and strong cost-basis cluster at $4,150. If price come close above $4,550 on weekly basis, e fit open road to new all-time highs between $5,000 and $5,800. But if e drop below $4,150, e fit test lower support near $3,650–$3,750. Traders suppose dey watch these ETH price levels for short-term entry and exit points.
Bullish
Ethereum don get im highest weekly close for four years and consistent ETF-driven inflows wey show say e get strong bullish momentum. Historical parallels dey show say large institutional investments and network usage spikes dey often happen before long rallies. Spot Ethereum ETFs, wey BlackRock dey lead, absorb over $1 billion one day, while daily transactions pass 1.74 million. Technical levels confirm say e get strong $4,000–$4,150 support zone, wey dey supported by 20-day EMA and concentrated cost basis. For short term, consolidation above these levels fit attract new buyers. For long term, weekly close wey pass $4,550 fit trigger fresh breakout go $5,000–$5,800. Overall, this news dey reinforce bullish outlook for ETH price and market stability.