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ETHEREUM
🏦 Blockrock ETH ETF Explodes 

Word On The Street: BlackRock’s Ethereum exchange-traded fund (ETF) is on the brink of reaching $1 billion in net inflows.

The details:

• iShares Ethereum Trust (ETHA) has attracted $992 million in net inflows, putting it on the verge of crossing the $1 billion.

• As of mid-day on August 21, the Ether ETF’s net assets stood at $837,898,429, slightly below the $1 billion mark.

• Morningstar data shows that net assets in ETH ETFs totaled approximately $7.3 billion as of the market close on August 20.

Why it matters: ETH ETFs have gained unexpected traction among registered investment advisors (RIAs), who account for up to half of fund flows.

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Other News

El Salvador launches Bitcoin certifications for civil servants. El Salvador’s government aims to upskill 80,000 employees through a comprehensive Bitcoin certification program that emphasizes strategic management.

Crypto Airdrops Ban U.S. Users, but Americans Are Claiming Tokens Anyway. Eigen Labs helped its employees access lucrative airdrops. Its U.S. employees appear to have helped themselves to tokens U.S. residents were banned from claiming.

Bitfarms acquires Stronghold Digital Mining in $125M deal. As part of the acquisition, Stronghold shareholders will receive 2.52 shares of Bitfarms for each share held.

Bitcoin Gets Brief Boost After U.S. Employment Growth Revised Lower. Job growth for the 12-months ending in March 2024 was 818,000 lower than previously reported, according to a government report.

Traders Corner (Premium)

Welcome, Traders!

Traders Corner is the premium section of The Blockstreet Journal. We provide one free report out of appreciation ❤️ 

Reports from our analysts today:

• Tron Technical Analysis (Free)

• ChainLink Technical Analysis (Paid)

• BONK Technical Analysis (Paid)

TRADERS CORNER
🤖 TRON Technical Analysis

Tron (TRX) is approximately $0.1557, trading close to the middle of the Bollinger Bands, which are set to a 20-period simple moving average (SMA). This position indicates a neutral sentiment, with neither strong buying nor selling pressure evident. The price is slightly above the lower band, suggesting it may be in a mild consolidation phase after a recent downward move.

Trend Analysis:

The chart indicates a downward trend, evidenced by the lower highs and lower lows that have formed over the past few sessions. However, the recent movement suggests that the downward momentum is weakening, as the price is stabilizing around the middle Bollinger Band (SMA line). The Bollinger Band Width (BBP) indicator at the bottom of the chart shows decreasing volatility, which often precedes a potential reversal or continuation of the existing trend.

Support and Resistance Levels:

• Immediate Support: $0.1538 (near the lower Bollinger Band)

• Critical Support: $0.1530 (below the current support level, which could be tested if the downtrend continues)

• Immediate Resistance: $0.1593 (upper Bollinger Band, the first resistance level in the event of a bullish move)

• Critical Resistance: $0.1620 (a break above this level would signal a stronger bullish reversal)

Potential Scenarios:

1. Bullish Rebound: If the price breaks above the middle Bollinger Band and surpasses $0.1593, it could signal a bullish rebound. The next target would be the $0.1620 resistance level, where stronger selling pressure may emerge.

2. Continuation of the Downtrend: A failure to break above the middle Bollinger Band and a move back below $0.1538 could suggest a continuation of the downtrend. In this case, the price might retest the critical support level at $0.1530 or lower.

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