Key takeaways:
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Ether price has climbed to a 6-month high, driven by record ETF inflows and rising network activity.
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The RSI buy signal at 40 in April, historically tied to major ETH price rallies, suggests a potential price target of $7,000-$10,000 in 2025.
Ether’s (ETH) price rallied toward $3,500 on Thursday, a level not seen since Jan. 7, fueled by increasing network activity and persistent spot Ethereum exchange-traded fund (ETF) inflows.
Record ETFs inflows send ETH price to 6-month highs
Ether climbed more than 10% in the last 24 hours and 25% in seven days, to hit a six-month high of $3,481 on Binance, according to data from Cointelegraph Markets Pro and TradingView.
Ether’s price performance is getting tailwinds from surging institutional demand, with spot ETH ETFs posting record inflows on Wednesday totaling $727 million.
Related: Ethereum open interest hits all-time high as trader predicts $30K price top
“Ethereum smashing through $3,400 isn’t just some degen spike from retail apes,” said pseudonymous crypto analyst Blazey Crypto in a Thursday post on X, adding:
“This is big boy money moving in. Over $726 million poured into ETH ETFs in a single day, with half of that from BlackRock alone. That’s not retail, that’s war.”
“This is huge,” said Mikybull Crypto, noting that Thursday’s inflows are the largest since spot Ethereum ETFs were launched on July 23, 2024.
Spot Ether ETFs have pulled in over $1.76 billion in the last five days, with ETF issuers now holding 4% of the entire ETH supply.
“Spot ETH ETFs with approximately $1.8B over the past five trading days,” said crypto investor Biashara, adding:
“Tell me how this thing won’t skyrocket?”
High Ethereum network activity, increasing TVL
The strength in ETH price is reflected in onchain activity, with Ethereum’s active address count rising by 9.4% over the last 30 days and…
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