Ethereum targets $3,500 as ETF inflows hit $824 million

Ethereum is showing renewed bullish momentum following a recent price breakout, with analysts citing strong institutional demand and significant ETF inflows as key drivers for the rally. Many in the market are watching for a continuation toward higher resistance levels if buying pressure remains steady.

Ethereum gains traction as institutional interest rises

As of publication, Ethereum trades at $2,455.44. The network currently holds a market capitalization of $296.33 billion and registers a 24-hour trading volume of $5.96 billion. The combination of technical strength and robust investor flows points toward a potential reversal of recent declines, positioning Ethereum for a sustained uptrend.

Michael van de Poppe, a prominent cryptocurrency analyst, stated that Ethereum appears to be breaking out of its previous range. He indicated there is optimism about further upward movement if buyers can maintain current momentum in the coming sessions.

Michael van de Poppe projected that, provided Ethereum’s bullish formation holds, “ETH could next move toward the $3,200 mark before targeting $3,500.” He emphasized the importance of sustained buyer activity at these levels.

The market is monitoring potential resistance at $3,200 and $3,500, where profit-taking could emerge. However, analysts urge traders to avoid exiting positions too early, given the present positive outlook for Ethereum.