Key Highlights:
- ETH surged 3% from the support level of $2,460, achieving a peak of $2,532 before stabilizing above $2,500.
- A notable increase in trading volume suggests robust buyer interest.
- BlackRock’s ETHA ETF reported $492 million in inflows last week, indicating strong demand from institutional investors.
Ethereum (ETH) has bounced back substantially from a critical support level around $2,460, regaining losses and gaining stability above $2,500 against the backdrop of general market volatility. This upward trend follows the development of a higher low structure supported by an increase in trading volume, which reflects growing confidence in the market.
Institutional engagement seems to be further solidifying this trend, with BlackRock’s ETHA ETF seeing a noteworthy influx of $492 million last week. This brings total investments to over $4.84 billion, bolstering a bullish sentiment in the long run, despite price fluctuations related to geopolitical factors.
Traders are now observing whether ETH can break through resistance levels between $2,520 and $2,530.
