Ether (ETH) is witnessing a notable uptick, currently valued at $2,538.25, a 1.28% increase over the past day. The recent surge in price aligns with data from CoinShares indicating that ETH garnered $295 million in weekly inflows, marking the highest among all digital assets last week. As a result, month-to-date inflows now total $296 million, boosting Ethereum’s total assets under management to $14.09 billion.
Recent technical analysis shows that ETH has rebounded from earlier weakness, successfully testing the $2,540 resistance level after consolidating around $2,500. This uptick signals a renewed confidence among institutional investors, who have contributed to 15 consecutive days of positive spot ETF net inflows, according to SoSoValue. As Ethereum's Decentralized Finance (DeFi) and staking initiatives continue to grow, the asset may have the potential for further appreciation if it consistently surpasses the $2,540 mark.
A quick glance at ETH's recent trading patterns reveals it fluctuated within a $57.91 range (2.31%) over the past 24 hours, sitting between $2,482.99 and $2,540.10. Key resistance remains at $2,540, while support is expected around $2,483 to $2,485. A breakout that occurred at 08:02 resulted in a 1.33% rise on a volume of 8,337 units. During a sharp price reversal, trading volume peaked at 253,612 ETH, reflecting a potential bullish sentiment.
With the price action presenting a potential bullish flag and a golden cross appearing between the 50- and 200-day moving averages, the consolidation above the $2,520 threshold suggests that buyers are currently in control of ETH's short-term outlook.
Recent technical analysis shows that ETH has rebounded from earlier weakness, successfully testing the $2,540 resistance level after consolidating around $2,500. This uptick signals a renewed confidence among institutional investors, who have contributed to 15 consecutive days of positive spot ETF net inflows, according to SoSoValue. As Ethereum's Decentralized Finance (DeFi) and staking initiatives continue to grow, the asset may have the potential for further appreciation if it consistently surpasses the $2,540 mark.
A quick glance at ETH's recent trading patterns reveals it fluctuated within a $57.91 range (2.31%) over the past 24 hours, sitting between $2,482.99 and $2,540.10. Key resistance remains at $2,540, while support is expected around $2,483 to $2,485. A breakout that occurred at 08:02 resulted in a 1.33% rise on a volume of 8,337 units. During a sharp price reversal, trading volume peaked at 253,612 ETH, reflecting a potential bullish sentiment.
With the price action presenting a potential bullish flag and a golden cross appearing between the 50- and 200-day moving averages, the consolidation above the $2,520 threshold suggests that buyers are currently in control of ETH's short-term outlook.
