Ethereum (ETH) achieved its highest weekly close since November 2021 at $4,475 on August 13, driven by significant ETF inflows and heightened network activity. After a bullish market cycle, spot Ethereum ETFs surged, with BlackRock’s ETHA leading with total holdings surpassing $12.6 billion, accounting for over 58% of all Ethereum ETFs. Additional inflows into ETH investment products reached $2.9 billion, indicating strong institutional interest. Network activity also escalated, with 1.74 million daily transactions recorded on August 5, reflecting a surge fueled by stablecoin transfers, DeFi, and layer 2 developments. Currently, traders are closely monitoring key price levels, with immediate support around $4,000 to $4,150. A crucial resistance level is present at $4,550, where a weekly close above could signal a potential new all-time high. Analysts suggest that holding above $4,150 is vital for maintaining bullish momentum, while a drop below could lead to further declines.

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