Key Insights:
- Ethereum holds above $2,000 despite 3.52% daily decline, with $29.7 billion trading volume recorded.
- Ethereum ETFs saw 84.92K ETH inflows, while Fidelity led with $61.9 million purchases.
- BlackRock added $31.3 million to the iShares vault, pushing total daily inflows to $157.2 million.
Ethereum has reclaimed the $2,000 level and traders now watch the $2,150 zone for the next move. Market data shows rising price action and steady ETF inflows. Analysts point to a possible breakout as the token records fresh gains amid a bullish bias.
Ethereum Price Holds Above $2,000
Ethereum price today stands at $2,005, with a price decline of 3.52% in the last 24 hours. Trading volume has reached $29.7 billion during the same period. Market data shows strong activity as buyers return above the $2,000 mark.
Crypto analyst Ted Pillows stated that ETH has reclaimed the $2,000 level, adding that the next crucial level is $2,150, and if Ethereum reclaims it, expect a rally towards the $2,400 level. Traders now monitor resistance at $2,150 for confirmation of further upside.
Price charts show that token moving within a tight range before the recent breakout. The $2,000 level now acts as short-term support. Market participants are watching whether buyers can maintain control above this range.
ETF Inflows Support Bullish Bias
Ethereum ETFs recorded net inflows of 84.92K ETH in the past 24 hours. The total value of these inflows reached $9.2 million, reflecting steady institutional demand for the asset investment products across markets.
Fidelity led with 33.44K ETH, valued at $61.9 million, marking the highest inflow among Ethereum ETFs.
Whale Factor reported large institutional buying activity, stating that BlackRock is hungry and $ETH is on the menu for investors. Factor also noted that $31.3 million was added to the iShares vault in one day during trading.
Total inflows for that session reached $157.2 million as market observers described this trend as a supply sink. Reduced circulating supply can affect short-term price movement when demand remains steady.
The $2,150 price level now stands as the next resistance zone. Ethereum remains the second-largest cryptocurrency by market value. Investors now focus on whether momentum continues above $2,150. Price stability above $2,000 keeps the bullish bias in place for now.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/ethereum/ethereum-reclaims-2000-level-eyes-2150/
