Ether Holds Firm Above $2,600 as Spot ETF Inflows Spark Renewed Optimism
Ether (ETH) maintained its upward momentum Monday, staying above the crucial $2,600 threshold amid record-breaking inflows into spot ETH ETFs this year.
After climbing to a peak of $2,650.18, ETH retreated slightly to trade around $2,617, per CoinDesk Research’s technical analysis.
The slight pullback hasn’t dampened enthusiasm, as Ether remains one of the top-performing cryptocurrencies this week. Spot ETFs linked to ETH saw $321 million in inflows, marking the strongest weekly capital injection since December and signaling growing institutional confidence.
Meanwhile, ETH balances on centralized exchanges have dropped to multi-year lows, indicating a trend toward accumulation and self-custody by investors.
Technical Highlights:
- Over the last 24 hours, ETH’s price moved within a $172.87 range (6.97%), with a high of $2,650.18.
- The $2,550 resistance level was decisively broken, supported by robust trading volume of 288,000 ETH.
- ETH is consolidating above $2,600, with buyers defending support levels between $2,610 and $2,615.
- A volume spike coincided with a brief dip to $2,609, showing strong buying interest.
- The overall technical picture remains bullish, with ETH maintaining higher lows and strong demand.
