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Following
ETH Ethereum approaches $2,478, technical indicators point to a potential rebound of $3,000.
Ethereum is currently trading at close to $2,478, attracting widespread attention from analysts and investors. A number of technical indicators indicate that Ethereum is expected to hit the US$3,000 mark. At the same time, the broader cryptocurrency market is also closely watching the U.S. Federal Reserve's upcoming policy meeting, which could affect market sentiment for various risky assets.
Triangle pattern signals a possible breakthrough
Technical analyst Ali Charts pointed out that a triangle pattern is forming on Ethereum's 12-hour chart. In previous historical cases, a similar pattern structure has caused ETH prices to surge by 31% in three days, which has triggered speculation that similar sharp rises will repeat.
Ali Charts mentioned that the last time Ethereum broke through the triangular shape, it rose by 31% in just three days. He suggested that ETH could climb to $3,000 if the current pattern breaks through upwards, but such a trend is not guaranteed.
Another analyst, using the pseudonym Wealthmanager, pointed out that Ethereum has decisively broken through the key resistance range of $2,300 to $2,400. In contrast, Bitcoin remains below its long-term resistance level of $82,000 to $83,000. Wealthmanager predicts that if momentum continues, ETH may first test the $3,000 level and then face the potential risk of a correction to the $2,300 region.
ETF fund inflows boost institutional confidence
Ethereum-focused traded open-end index funds (ETFs) recorded a significant net inflow of $216.41 million on September 11, highlighting institutions 'growing interest in the asset. ETHA products owned by BlackRock, one of the world's largest asset managers, led the way with daily net inflows of $148.82 million. Other notable flows include Bitwise's ETHW receiving $29.09 million, BlackRock's ETHB receiving $18.32 million, and Fidelity's FETH ETF receiving $11.4 million.
Since its establishment, the cumulative total net inflow of Ethereum ETF has reached US$13.39 billion, and total assets under management are now US$16.31 billion. This accounts for approximately 5.28% of Ethereum's total market value. Aggregate (aggregate) trading activity for these products reached $2.56 billion on September 11.
BlackRock is one of the most well-known asset management companies in the world and is known for its influence in global financial markets.
Mini Dictionary: Spot Ethereum ETF is a transactional open-end index fund that allows investors to directly track Ethereum price fluctuations without directly holding cryptocurrency. These products are traded on traditional stock exchanges.
Key technical signals and support levels
Market analyst Daan Crypto Trades pointed out that after the latest wave of gains, Ethereum has returned to its previous breakthrough area. He pointed out that the decline in the number of open interest in perpetual contracts could alleviate volatility caused by excessive leverage.
Daan Crypto Trades emphasized that the number of open contracts in Ethereum Perpetual Contracts has dropped significantly, indicating that many leveraged positions have been cleared and the market may be ready and reset for the next move.
From a technical perspective, Ethereum is currently traded near the Central Bollinger Band at US$2,470, with the upper and lower rails set at US$2,543 and US$2,396 respectively. The MACD indicator showed weakening bullish momentum as the main MACD line remained below the signal line and the histogram reflected a slight negative value.
The four-hour relative strength index (RSI) was 51.77, slightly above the neutral midpoint. If ETH can surpass $2,550, analysts believe it will quickly retest its recent high of $2,600. However, any decline below $2,490 could put the $2,400 support area back into the next safety net.
