Ethereum ETF Triumphs: Price Rally Looms—Don’t Miss Out!

Ethereum’s Price Shows signs of Recovery Amid ETF Inflows

Ethereum’s price is showing signs of a potential rebound. It’s currently at $2,530, up 85% from its April low. This upward trend is supported by a bullish flag and a golden cross pattern,suggesting a strong comeback.

American investors are buying Ethereum aggressively. SoSoValue data reveals that spot Ethereum ETFs have seen inflows for five straight weeks. This week, these funds added $528 million, a important jump from last week’s $281 million. The total net inflow now stands at $3.85 billion, with the total assets held by these funds exceeding $10 billion. BlackRock’s ETHA ETF leads with $5.23 billion in inflows and $4.1 billion in assets. Grayscale’s ETHE and ETH ETFs hold $2.8 billion and $1.3 billion, respectively. Fidelity’s fund also holds $1.3 billion. These inflows signal a potential price recovery.

One reason for this accumulation is Ethereum’s undervaluation in April. The MVRV, a key market indicator, fell to -0.86 on April 9, signaling it was undervalued. MVRV compares the current market cap with the realized value,wich is the price at which each coin was last moved.

Ethereum also holds a significant market share in key crypto sectors. It has a total value locked of $134 billion and a market dominance of 62%. Its stablecoin dominance is 50%, with total holdings at $125 billion.

Technically, Ethereum’s price chart shows a bullish flag pattern. This includes a vertical line (flag pole) and a horizontal or descending channel (flag). The price is now in the flag section. A golden cross pattern has also formed as the 50-day and 200-day Weighted Moving Averages crossed. This suggests a potential bounce back, possibly reaching $3,000 and eventually $4,000.