Ethereum 
$3,764.76 On July 30, 3 thousand 800 dollars on the threshold of the US Federal Reserve (FED) interest rate decision before the market cooling, despite the resistance. On the same day, Ethereum futures open positions decreased by 2 billion dollars and fell to $ 54.1 billion. According to CoNSS data, the futures volume decreased by 32 percent and decreased to 84.7 billion dollars. Behind the strong price, three important developments from the ecosystem drew attention.
Three basic factors that increase investor interest in Ethereum
Ethereum ecosystem recently celebrated its 10th anniversary. Developers and leading market participants on social media milestones and future visions sharing It caused an increase in global interest. This had a positive effect on market psychology and directly altcoinIncreased demand to E.
The second important development is US Securities and Stock Exchange Commission‘s (SEC) Hem Bitcoin 
$117,959.83 as well as Ethereum Stock Exchange Investment Funds (ETF) for the approval of non -cash firefighters. This regulatory clarity has the potential to increase the interest of corporate investors by making capital inflows more efficient. Crypto investors’ application – the reason will surprise you!
The third factor was the rapidly increasing institutional demand. Bloomberg ETF analyst Nate GeraciBlackrock’s Ishares Ethereum ETF is now over 3 million units Eth that you hold explained. This amount corresponds to 2.5 percent of a total of 120 million circulating supply, and supports the estimation that Standard Chartered’s Ethereum ETFs can reach 10 percent of the total supply over time.
Ethereum Price Analysis: Support and Resistance Levels
Ethereum is currently trading at $ 3 thousand 802 and the top of 4 thousand 158 dollars Bollinger band It is consolidated in a region close to its level. This level stands out as a critical resistance. Bollinger bands expand to expand the market volatility increases. Middle band support is at the level of 3 thousand 518 dollars.
Relative power index (RSI) is 75.48 and approached the extreme purchase zone. However, it remains below 81.04 last week and shows that there is a space for the upward movement in the short term. Analysts say that if the price is exceeded by 4 thousand 158 dollars, the price can rise up to 4 thousand 500 dollars. On the other hand, the price of the price below 3 thousand 750 dollars can raise the risk of withdrawing to the 20 -day moving average in 3 thousand 520 dollars.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
