Even after a slight pullback from the local highs of $330, Ethereum remains one of the best-performing cryptos of the past week.
According to Coin Market Cap data, the asset is trading for $324 on leading margin exchanges at the moment.
There is only one week left in the month of August.
$11,600 and $11,200 are two support levels to watch for the remainder of the month.
A monthly close above any of these two levels could mean a continuation of Bitcoin’s bullish narrative.
Venezuelan President Nicolás Maduro announced an anti-sanctions law embracing cryptocurrency.
Shortly thereafter, the Decentralized Stock Exchange of Venezuela was established.
Traders will purportedly be able to buy and sell tokenized versions of traditional assets.