Ether futures open interest has surged 40% in the last month, indicating increasing trader confidence amid price consolidation. Alongside this, spot Ethereum ETFs have experienced four consecutive weeks of inflows, with a total of 3.77 million ETH held across these funds. BlackRock is heavily investing in Ethereum, acquiring 1.5 million ETH valued at approximately $2.71 billion and reportedly purchasing an additional $500 million in the cryptocurrency over just ten days, showing strong institutional faith despite ETH being 48% lower than its all-time high. According to the Gaussian channel indicator, ETH could push towards a price range of $3,100 to $3,600 if momentum remains steady, following historical patterns of price movements when surpassing key levels. The Ether-based investment products have led the way with $296 million in inflows last week, reflecting revived investor sentiment despite market uncertainties due to regulatory factors. As ETH stabilizes above the mid-line of the Gaussian channel at around $2,570, technical analysis suggests potential for significant gains if positive trends hold.
BlackRock's Ethereum Accumulation Sparks Price Rally Forecast to $3K
Ethereum's price may rise to between $3,100 and $3,600, driven by heightened institutional investments and favorable market indicators.
Jamie Bennett
Crypto Analyst
6 min read
15,647
Analysis
Market Sentiment
Bearish
Neutral
Bullish
News Impact
8/10
Credibility: 9/10
Trading Recommendation
ETH
ETH
BUY
Entry Price
$2570
Confidence
80%
Stop Loss
$2400
Take Profit
$3100 - $3600
The news indicates strong bullish signals for Ethereum with institutional accumulation and technical indicators suggesting a price rally.
