Kalshi Traders Predict Ethereum Price May Hit $2,650 This Month

Ethereum price could climb to $2,650 this month, according to forecasts from traders on prediction platform Kalshi. The forecast comes after a 20% weekly price jump, which took Ether past $2,400. However, momentum has cooled as the broader cryptocurrency market fell 1.95% to $2.61 trillion during the past day.

 Ethereum price has struggled to clear $2,500, where profit-taking continues to limit further gains. Bitcoin price also remained in the vicinity of $78,000 on Wednesday, just shy of the critical $80,000 level. 

In the meantime, XRP consolidated at $1.44 following a roughly 5% drop from the two sessions. The pullback indicates that traders may be taking profits off the table after the impressive rally last week.

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Ethereum Price Forecast Hits $2,650 as Kalshi Traders Turn Bullish

The price of Ethereum could climb to $2,650 before August ends, according to expectations displayed on Kalshi.

The current prediction market number indicates the traders have boosted their monthly peak prediction.

The graphic of Kalshi puts the forecast at $2,650 with the green up 585.4. This movement indicates market participants are more confident in the short-term growth prospects of Ethereum.

The forecast, however, is one of the expected general consensus and not a set Ethereum price.

The graphic then displays a slight retraction and then a consistent movement around the top range.

This pattern suggests that traders were not deterred by the unexpected forecast change and that much of their optimism remains.

That would require the Ethereum price to be gaining some momentum in the remaining sessions of August in order to break to the projected price of $2,650.

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Ethereum ETF Inflows Hit $179.8 Million as BlackRock Leads Demand

Ethereum spot ETFs attracted $179.80 million in net inflows on August 25, according to SoSoValue data. BlackRock’s ETHA posted the highest number of shares with $146.44 million, followed by Fidelity’s FETH with $25.75 million. 

The total reported inflows for the day included $7.61 million in BlackRock’s ETHB. These Ethereum ETFs combined totalled $14.88 billion in assets, accounting for 5.06% of the market cap of Ethereum.

Value of trading was $980.49 million and historical net inflows increased to $12.45 billion. ETHA continued to be the biggest fund with $8.23 billion in assets. Even though the net outflows came in at $5.35 billion, Grayscale’s ETHE still ended up with $1.87 billion. In the other hand, ETHA decreased by 0.46%, with FETH and ETHB decreasing 0.37% and 0.44% respectively.

Is Ethereum Price Preparing for a Breakout Above $2,500?

The ETH price traded at $2,451.51 on August 26, down 0.44% on the latest four-hour candle. Despite the short-term momentum’s stall, the Ethereum price stuck within a bigger bull market structure above the $2,350 support level.

The four-hour RSI dropped back from overbought levels to 55.57, indicating neutral conditions. In the meantime, the MACD stayed below the signal line, and the histogram was negative, indicating a fade in price.

If the close is made above $2,500, then $2,600 and $2,800 could be the next levels to reach as per the future ETH outlook. 

But a second rejection close to $2,500 could send ETH into the near term support region at $2,350. If that’s the case, a broken down might reveal $2000, whereas even greater weakness can bring $1800 back into focus.