Ethereum price forecast: Analysts are optimistic that ETH will close above $2550 per week and is exp

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Key insight: Ethereum price forecast: A weekly closing price exceeding $2,550 may enhance the upward outlook. Ethereum ETF inflows reached US$1.185 billion in eight trading days. The increase in short liquidations suggests that bullish pressure is building.

Ethereum prices are currently trading at $2,519 after recovering from a low of $2,490 and standing back at $2,500. However, as of press time, the price was still below the day's high of $2,558.47. The latest round of gains was blocked near the $2,525 to $2,530 range. If we can continue to break through this direct resistance area, US$2,540 and the day's high may be included in the scope of attention.

Following the intraday rebound, Ethereum's performance indicators showed a 10.6% gain in the past seven days and a 34.3% gain in the past 30 days.

Ethereum price forecast shows a possible rise to US$3,000

In the Ethereum price forecast, cryptocurrency analyst Ted linked a potential rise to US$3,000 to a weekly close above US$2,550. However, the weekly candle chart has not yet closed, and the breakthrough has not yet been confirmed after Ethereum continued its strong rebound last week.

Meanwhile, Ted's weekly chart shows Ethereum prices are slightly below the US$2,547 - 2,550 resistance zone, with the latest candle chart rising 2.98%. His chart marks $2,800 as the middle resistance level, and once it breaks through it will further strengthen the case for gains.

Conversely, direct support is at US$2,500, followed by the area around US$2,480 - 2,490. A loss in this area could expose prices to $2,460, which could lead to intraday lows of $2,439.43.

On the weekly chart, if you encounter resistance, you may turn your attention to the $2,425 level shown by the dotted line. Below this level, the marked support areas are around $2,190 and $1,965, with deeper support at $1,713.

Ethereum ETF inflows continue to grow for eight trading days

With this rebound, Ted reported that during the trading session on August 26, net inflows of Ethereum ETF totaled US$192.35 million. The accompanying flow table shows that eight consecutive trading days of positive inflows attracted approximately $1.185 billion from August 17 to August 26.

During this period, US$487.72 million was contributed in the last three trading days. This reflects the continued need to gain exposure through the Ethereum ETF. In addition to these subscriptions, cumulative net inflows reached US$12.64 billion, while the fund's total net assets were US$15.13 billion.

Meanwhile, data showed trading volume fell slightly to US$951.08 million, down from US$980.38 million the previous trading day. As a result, despite the decline in overall trading turnover, higher net inflows were recorded in the latest trading session.

In terms of current day distribution, Ted attributed US$115.66 million to BlackRock, which accounted for approximately 60.1% of total daily net inflows. However, the accompanying screenshots do not show individual fund flows, so it is not possible to independently confirm the shares reported by BlackRock.

In addition, Lookonchain's on-chain tracking data shows that BlackRock's crypto funds have accumulated Bitcoin and Ethereum over eight consecutive trading days.

These reported additions include 27,722 bitcoins (worth $2.2 billion) and 385,633 Ethereum (worth $961 million). Taken together, among the funds covered by the update, the increase in holdings is approximately US$3.16 billion.

These continued inflows may absorb selling pressure from both cryptocurrencies, although increased holdings do not guarantee an increase in market prices.

Short positions dominate Ethereum clearing

Along with these flows, Ethereum's total clearing of long and short positions in the 24 hours displayed was US$149.49 million. Among them, the clearing amount of short positions was US$106.48 million, while the clearing amount of long positions was US$43.01 million.

This imbalance suggests that traders betting on falling prices are under greater pressure, which is consistent with a short squeeze. However, clearing data alone cannot determine whether Ethereum's latest rebound will develop into a sustained price increase.

In a shorter period of time, a cumulative liquidation of US$109.11 million in the last 12 hours, followed by US$12.54 million in the last 4 hours. In the last hour, liquidations totaled $1.05 million, indicating that pressure has eased after an earlier larger outbreak.