Ethereum Press was trading at $ 3,658 at time, gaining 2.2% gains in the last 24 hours as on-chant metrics show increase in transactions activation.
Summary
- Ethereum is trading at $ 3,658, which is 2.2% a day, but 4.7% a week.
- Daily Etharium transactions hit 1.87 meters on August. 6, near Record High.
- Technical indicators show neutral mentums, priced between $ 3,450 and $ 3,920.
The price is 30% higher than a month ago, even it seems that it has slipped 4.7% compared to the previous week. As buyers and vendors, currently represents a duration of the current weekly rank of $ 3,380 to $ 3,874.
Meanwhile, there are indications that market activity is slowing down. According to Coving Class data, the daily trading volume has declined by 15.6% to $ 22.2 billion, which is more than 20% more than $ 77.2 billion. A slight decline in open interest indicates that the market fees are active status.
Network activity
The use of Ethereum’s (Eth) network is increasing rapidly. On August, daily transactions increased to 1.87 million. 6, based on Ethicain data, close to all time of 1.96 million recorded in January 2024.
StableCoin activity, mainly Titu (USDT) and USD coin (USDC), is running a large Porian of transaction growth amid increasing optimism about American legislative environment. The use of on-chain has been invested and market confidence is being restored for the re-passed Genius Act, which explains the rules for dollar-supported stabilin.
In Paralyile, instability frames from investors to girls. According to a report by Novadius Wealth President Nate Garaxy, both Ath-Treasury-holding companies and US Spot ETFs have deposited 1.6% of each of the total morally in June, which is for 3.2% shares.
Strategic Ath Reserve data shows that 64 companies now hold 3.03 million ETHs, priced at around $ 11.8bus spot ETFS pure assets, on the other hand, has reached $ 20.61 billion.
Atherium technical analysis
The atherium is showing neutral speed. The price is hovering under the 20-day simple moving average at $ 3,685. The relative power index is at 58, neither overbott nor oversold. Most of the oscillator, including stochastic, commodity channel index and MACD, point to a ballant setup.
The moving average remains auxiliary. Eth is monitoring its 10-day through 200-day exponential and simple moving average. The terrible oscillator and motion show some strength, but is not enough to support a clear tendency in the ether direction.
If it breaks above $ 3,685, the price may move towards $ 3,920. Support on $ 3,450 is still important on the negative side. For now, ETH is consolidated which makes girls underlying demand.
