Ethereum currently priced at $1,800 sees first weekly inflows of $157.1 million for ETFs since February, driven by institutional buying. Recent comments from SEC Chair Paul Atkins indicate a potential for more favorable regulation. Technical indicators show indecision at crucial price points, with potential for movement towards $2,100 or a decline below $1,688.
Ethereum has recently seen some movement in its price, currently standing at $1,800. This surge is attributed to Ethereum ETFs witnessing a significant weekly net inflow of $157.1 million, the first positive week since February. This kind of institutional interest in Ethereum is notable and quite possibly linked to some recent shifts in US political rhetoric regarding China tariffs and new leadership at the SEC.
The reported inflows were driven mainly by products from Fidelity, BlackRock, and Grayscale, with Fidelity’s FETH accounting for a substantial portion. Meanwhile, Friday marked an especially strong day for these ETFs, pulling in $104.1 million, the highest since early February. This surge coincides with Paul Atkins stepping in as SEC Chair, which has raised hopes among many in the crypto space that regulations might become more favorable.
Atkins’ comments at a recent SEC crypto roundtable suggested a balanced approach towards digital assets is likely. He expressed intentions to engage with Congress in developing a “reasonable and targeted” regulatory framework. This is a crucial time for ETH ETF issuers, as they’re eagerly awaiting the SEC’s imminent decisions about permitting staking in their products, which could significantly enhance inflows into Ethereum ETFs.
As Ethereum continues to navigate around the $1,800 mark, there’s been a noticeable indecision in the market. Recent trading has seen approximately $45.18 million in futures liquidations. Currently, ETH is revisiting this critical resistance level, having faced three days of rejection just below it. A breakthrough above the $1,800 level could potentially initiate a rebound towards the next resistance point at $2,100. Conversely, should ETH dip below $1,688, it might signal a downturn, potentially dragging the price down to lower trendlines.
On a technical note, indicators like the Relative Strength Index (RSI) and Awesome Oscillator (AO) are hovering above neutral zones, signalling a possibility for bullish momentum. The AO recently crossed back above its midline, a trend that, if sustained, could favour ETH’s rise. Meanwhile, the Stochastic Oscillator is in the overbought region, suggesting there might be a short-term pullback ahead.
Investors should exercise caution as this information carries inherent risks, and investing always comes with uncertainties. The insights provided are not to be taken as financial advice. It’s essential to do one’s own research before making any investment decisions, as all associated risks are solely the investor’s responsibility.
