- Ethereum confirms breakout as buyers defend $4,560 and momentum targets $4,590.
- Institutional ETH holdings surged 116% since July, now exceeding 11.7M ETH.
- $646M inflows, $77.6M exchange outflows, and $171B stablecoin supply boost support.
Ethereum Broadening Wedge Breakout is Already Confirmed. The cryptocurrency has continued its upward trajectory after breaking from bearish patterns. Price action moved above major resistance areas, and technical indicators show continued strength. Market data from Coingecko and independent analyst reviews confirm Ethereum’s structure remains supported by buyers near key levels.
Ethereum Price Movement and Technical Setup
Ethereum traded at $4,586.16 after recording a 2.0% daily increase, with trading ranging between $4,440.00 and $4,637.85. Market capitalization was reported at $553.85 billion, and trading volumes reached $42.53 billion in the last 24 hours. Circulating supply matched total and maximum supply at 120,704,240 ETH.
The one-hour chart showed a breakout from a descending channel after extended sessions of lower highs and lows. According to an analysis prepared by Captain Faibik, Ethereum rebounded from $4,180 toward $4,460 within a short period. A measured target zone of 220 points confirmed the momentum following the breakout.
Further observations by Kamran Asghar indicated Ethereum traded within a symmetrical triangle before breaking higher near the $4,560 level. Price respected Fibonacci retracement levels, rebounding near 0.618 support before testing resistance at 0.382. The breakout extended toward $4,590 while buyers kept momentum intact above $4,560 support.
Market Developments and Broader Support
According to Coingecko data, Ethereum showed consistent upward price action with temporary pullbacks followed by renewed buying strength. Buyers held higher supports while the MACD advanced further into the bullish zone and the RSI moved above 50.
Unstaking queues reached 2.6 million ETH worth approximately $12 billion, representing the largest withdrawal requests by validators. At the same time, institutional accumulation grew sharply, with entities increasing holdings by 116% since July 1, now controlling over 11.7 million ETH.
Ethereum investment products registered $646 million in inflows last week. Stablecoin supply on Ethereum mainnet and Layer 2 networks reached $171 billion, supporting liquidity. Net exchange outflows of $77.6 million further reduced available supply, signaling a firm market foundation.
