Weekly Ethereum ETFs Inflows Turn Positive as Ethereum Price Eyes $3,000 Retest
Highlights
- Ethereum ETFs post the first weekly net inflow of $49 million, sparking hope of recovery.
- Based on the IOMAP model, ETH holds above crucial support between $2,292 and $2,368, indicating a bullish outlook.
- The futures open interest rise and the volume support Ether’s bullish case toward $3,000.
- Sluggish sentiment amid mounting recession fears and geopolitical tensions pose key threats to Ethereum's resurgence.
Ethereum ETFs have rebounded from Monday’s steep decline, with weekly volume turning positive despite broader market uncertainty. Tuesday’s Ethereum price recovery suggests a bullish trend forming, with traders looking forward to a potential breakout above $3,000.
Ethereum ETFs Score $49M Weekly Inflows
After performing dismally since their launch in July, ETH ETFs are back in the green, with Monday’s net inflow volume reaching $49 million. Based on ETF data from SoSoValue, this marked a significant improvement from Friday’s $54.3 million in total net inflow.
Negative flows characterised the weeks that ended on August 2 and July 26, narrowing the chances of a breakout to $4,000 while increasing downside risk. Ethereum price lost several support areas at $3,300 and $2,400 but recollected $2,100 on Monday ahead of the ongoing trend reversal.
It is essential for the ETF to continue receiving positive flows, which will boost investor morale and increase demand for ETH, supporting a sustainable uptrend.
Ethereum Price Jumps Above $2,500, What’s Next?
After successfully defending the $2,100 support level, traders initiated buying, driving the ETH price rebound. This momentum shift, confirmed by the Money Flow Index (MFI) moving from oversold into neutral territory, propelled the Ethereum price above $2,500. A daily close above $2,500 is required to validate the bullish thesis to $3,000, at which point bulls will resolve to take a breather before proceeding with the push to $3,500.
The IOMAP model from IntoTheBlock reveals robust support between $2,292 and $2,368. Approximately 1.7 million addresses that purchased almost 50 million ETH in the range are profitable and unlikely to sell, betting on an extended rally. The model indicates decreasing resistance levels, suggesting the possibility of a sustained rally beyond $3,000.
Conversely, a previous ETH price forecast confirmed that a death cross pattern in the daily time frame could complicate the situation for the bulls, hindering further uptrend above $2,500. A breakdown of the current support level ($2,500) could reignite a bearish descending triangle pattern, potentially extending the price decline toward $1,600.
Frequently Asked Questions (FAQs)
1. How does positive ETF volume affect Ethereum price?
2. Has the Ethereum crash ended?
3. How can traders protect themselves?
- Bitcoin Edges Higher as Fed Chair Jerome Powell Fails to Comment on Monetary Policy
- Flare Network Surpasses $43M in Bridged XRP, Expert Predicts Breakout to New ATH
- Bitcoin, Ethereum Drag Broader Crypto Market Lower Ahead of FED Powell Speech
- Breaking: Ripple Partners With Bahrain’s Fintech Bay in Push for RLUSD Adoption
- XRP News: Why Whales Sold 440M Coins in a Month Despite ETF Launch Buzz
- Solana Price Prediction as SOL DAT Company Plans 5% Supply Acquisition—Analyst Targets $1,300 Breakout
- Bitcoin Price Prediction as US Govt. Shutdown Extends- What’s Next for BTC?
- Solana Price Megaphone Points to a Parabolic Move as SOL Treasuries Near $3B
- XRP Price Prediction Amid ETF Approval Roadblock as Analyst Warns of $2.72 Dip
- Binance Coin Price Prediction If It Surpasses Bitcoin Marketcap— Is $3000 Possible in 2025?
- ASTER vs HYPE Price Analysis – Which Perp DEX Token Looks Poised to Dominate Q4 Performance?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
