Ethereum (ETH) Price Prediction: Strong Inflows from ETFs and Reserve Funds, ETH to Test the Important Threshold of $3200

Ethereum (ETH) today (11) reported at $2,948 in the Asian early session, mirroring the historical high surge of Bitcoin. The strong buying from ETH exchange-traded funds (ETFs) and crypto assets fund companies has also pushed up the price of ETH. The surge in ETH may continue to $3,200, breaking through the resistance level of $2,850 that has been maintained since February 4.

Ethereum is rising due to strong inflows from ETFs and reserve funds

Ethereum hit a new five-month high, reaching $3,000 on Thursday, with an increase of over 6% in the past 24 hours and more than 15% in the last three days. Previously, Bitcoin surged to a historical high of over $116,000, driving the rise of the entire Crypto Assets market. Although ETH seems to be riding the wave of BTC's increase, it also faces some unique bullish catalysts.

The US spot Ethereum ETF recorded a net inflow of $211.32 million on Wednesday, with positive inflows for four consecutive days, totaling $468.63 million.

Bloomberg ETF analyst Eric Balchunas pointed out in his X column on Thursday that BlackRock's iShares Ethereum ETF (ETHA) had a daily trading volume exceeding $800 million over the past two days, which is 4 times its average level.

He wrote: "Given that prices are also rising, there may be some large-scale capital inflows in the coming days. It is very likely to break the single-day record of 292 million dollars."

Recent trends in Ethereum asset management tools may also add momentum to price movements. Since June, five NASDAQ-listed companies, including SharpLink Gaming (SBET), Bit Digital (BTBT), BitMine (BMNR), GameSquare (GAME), and BTCS, have announced a total of over $1 billion in ETH asset management plans.

In recent months, progress in cryptocurrency regulation has driven the emergence of ETH, especially the GENIUS Act. The bill has passed in the Senate and will be voted on in the House of Representatives next week. If the bill is passed, it will accelerate the development of stablecoins in the United States and could potentially drive the development of Ethereum.

According to data from Token Terminal, Ethereum accounts for about 50% of the global stablecoin market, with the transfer volume of stablecoins reaching a historic high of over 4 trillion dollars in the second quarter.

Ether Price Prediction: ETH Breaks Through $2,850 Resistance Level, Targeting $3,200

Coinglass data shows that the total liquidation amount of Ethereum futures in the past 24 hours reached 236.54 million USD. The total liquidation amount for longs and shorts was 32.27 million USD and 204.27 million USD, respectively.

FXStreet analyst Michael Ebiekutan stated that after breaking through the upper boundary of the symmetrical triangle formation, ETH has for the first time since February 4 broken through the key resistance level of 2,850 USD and is striving to reclaim the psychological barrier of 3,000 USD.

If ETH maintains above $2,850 and breaks through the resistance level near $3,000, its pump may continue to $3,200. However, if ETH falls below the key level of $2,850, it may retreat to the support level of $2,500.

The Relative Strength Index (RSI) and the Stochastic Oscillator (Stoch) are in the overbought territory, indicating that bullish momentum is dominant, although there is a possibility of a short-term pullback.

(Source: Trading View)