Ethereum is gaining momentum above $3,500, with growing institutional interest and ETF inflows driving bullish sentiment. The Ethereum price is currently consolidating near key resistance levels, signaling a potential breakout towards $3,750. Recent price action highlights strong support at $3,500, while technical indicators suggest further gains if Ethereum clears resistance at $3,680. Rising investor interest and significant net inflows into ETH-linked ETFs underline the increasing confidence in Ethereum's market outlook, despite concerns over profit-taking from long-term holders.
The key anticipation levels beginning from the top are $3,650 and $3,680. If the price successfully breaks above $3,680, it can be expected to rise towards $3,750. Further increases could see ETH aim at $3,880 or $3,920, enhancing a bullish perspective.
Ethereum's price is vulnerable to a correction if it does not break $3,650. Support levels worth considering include $3,540.00 and $3,500. A decline below $3,500 could challenge $3,470 at the 50% Fibonacci retracement point of the upturn from $3,254 to $3,688.
Market sentiment towards Ethereum has risen recently, as evidenced by the large amounts of funds flowing into ETH-linked ETFs. Minor price corrections aside, net inflows have reached $243 million in the past week, reflecting improving sentiment.
Recent data by K33 Research showed that the leveraged long ETH ETF position has risen by 160% in the last few weeks. This trend implies the general tendency of investors to demand risk, placing Ethereum in focus as an asset within the cryptocurrency market.
However, the problem of profit-taking has been included. Crypto analytics platforms have also observed transaction activity from large American holders, including a transfer of 20,000 ETH by co-founder Jeffrey Wilcke to the Kraken exchange, which may signal the concern of long-term investors.
Ethereum's nearest support is around the $3,400 level, close to the 50-day SMA. A bounce from this support level may open the prospects for a retest of the $3,732 resistance. Lack of such an amount may result in more losses and lead to $3,000, which is a psychological level for most investors.
The market analysts pointed out that the price target of ETH / USD remains significantly volatile, at nearly $3,526, because of concentrated leverage positions. According to the RSI and Stochastic Oscillator, bullish sentiment is dominant, although immediate movement will depend on ETH/BTC's ability to rise above $3,600.