Key takeaways

Ethereum is nearing its all-time high despite mixed signals from institutions. Market momentum and bullish sentiment suggests potential for further gains.

Ethereum [ETH] hits fresh highs even as institutional money appeared to be heading for the exit.

Outflows from spot ETH ETFs have been heavy, yet big names like keep buying. There’s a striking divergence in sentiment: while some institutions are cashing out, other heavyweight players seem intent on staying.

ETH surges ahead

Ethereum traded at $4,737 at press time, just shy of its all-time high of $4,891 set back in November 2021 according to CoinMarketCap.

The hourly chart highlighted an upward move (with Jerome Powell Jackson Hole speech being a key catalyst) followed by consolidation, so bulls were defending the higher levels.

The RSI was at 62.8, indicating strong momentum but leaving some room before hitting overbought territory.

Meanwhile, the MACD showed waning bullish momentum as the histogram turned red.

If buying pressure persists, ETH could attempt another run at its historic peak, though short-term corrections remain likely given the recent volatility.

Mixed signals from institutions

ETH is chasing new highs, but there’s more to it than what meets the eye.

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Author: Samyukhtha L KM

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