Ethereum: Seeking Balance After the July Rally
Ethereum made headlines with an impressive rise of 54.8% in July, while it pulled back to the $3,523 level in the early days of August. ETH, which experienced a drop of over 4% on a daily basis, is showing indecisive signals on the technical side.
While some indicators signal a reversal from the overbought zone, on-chain data and institutional inflows maintain a strong stance. In particular, the net inflows from institutional wallets towards Ethereum indicate that confidence is sustained in the medium term despite a short-term correction.
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View OriginalEthereum made headlines with an impressive rise of 54.8% in July, while it pulled back to the $3,523 level in the early days of August. ETH, which experienced a drop of over 4% on a daily basis, is showing indecisive signals on the technical side.
While some indicators signal a reversal from the overbought zone, on-chain data and institutional inflows maintain a strong stance. In particular, the net inflows from institutional wallets towards Ethereum indicate that confidence is sustained in the medium term despite a short-term correction.
Bitcoin'