Ethereum Sustains $4,390 Amid Institutional ETF Surge

Ethereum has experienced notable price volatility recently, with its value surging to an all-time high of $4,945.60 driven by strong institutional investment and growing confidence in its role in decentralized finance and Web3. Despite this optimism, Ethereum faces technical challenges such as potential declines below key moving averages, including the 20-day EMA, signaling mixed market signals amid whale purchases exceeding $80 million. The asset is currently consolidating near critical support levels, with traders closely watching for a breakout that could dictate its short-term trajectory. Meanwhile, Ethereum exchange-traded funds (ETFs) have attracted substantial inflows, raising $4 billion in August alone, signaling a shift in institutional interest from Bitcoin to Ethereum due to regulatory clarity and staking yields. This institutional demand supports predictions of Ethereum reaching price targets ranging from $7,500 by year-end to $20,000 within the current cycle, highlighting its growing appeal as a major crypto asset.