Global interest in buying Ethereum spikes 1,900%
Main Idea
Ethereum's price surge and growing global interest, along with significant ETF inflows, suggest potential for further price increases, with technical analysis indicating a possible rally towards $22,000.
Key Points
1. Ethereum's price surpassed $4,600, trading at $4,618 with a 6% increase in 24 hours and a 27% weekly gain.
2. Global search interest for Ethereum surged by 1,900%, with the highest interest in the UAE, New Zealand, and India.
3. Technical analysis suggests Ethereum broke out of a four-year inverse Head and Shoulders pattern, potentially targeting $22,000.
4. Ethereum spot ETFs recorded $523.9 million in net inflows, led by BlackRock and Fidelity, contributing to bullish momentum.
5. If inflows continue and the $4,500 support level holds, Ethereum could target the $5,000 mark.
Description
As Ethereum’s ( ETH ) price tears past major resistance levels, global interest in purchasing the asset has surged over the past month, jumping nearly 20-fold. On July 13, search interest stood at just 5 on Google’s scale of 0 to 100. By August 13, it is projected to hit 100, the highest level in at least a year, marking a 1,900% increase, according to Google Trends data retrieved by Finbold. Geographically, the United Arab Emirates recorded the highest interest with a score of 100, followed by ...
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