Breaking Past $2,800 Resistance as ETF Inflows Continue
TLDR
Ethereum surged past $2,800 resistance and approached $3,000 psychological barrier
Nine consecutive weeks of positive ETF inflows strengthened institutional demand
Trading volume increased 47.71% while market cap reached $361.54 billion
Liquidation heatmap showed dense liquidity clusters above $3,000 mark
ETH/BTC ratio recovery indicated altcoin gaining strength against Bitcoin
Ethereum traders watched prices climb past the $2,800 resistance level during the past week. The cryptocurrency traded at $2,995.43 with a 6.49% gain.
The rally marked nine consecutive weeks of positive spot ETF inflows. This pattern established Ethereum as a preferred asset among institutional investors.
Trading data revealed a market capitalization of $361.54 billion. The 24-hour trading volume reached $44.75 billion after a 47.71% increase.
Technical Indicators Point Higher
The weekly chart displayed Ethereum breaking through a bearish order block at $2,800. This move demonstrated strong buyer enthusiasm in the market.
Price action left minimal time at the resistance zone during July’s rally. The rapid movement suggested potential for a retest before continuing higher.
The Relative Strength Index reached 77 on the 12-hour timeframe. This reading indicated robust bullish momentum across trading sessions.
Capital flow measurements showed a CMF value of +0.23. Readings above +0.05 typically signal dominant buying pressure in the market.
The one-month liquidation heatmap revealed concentrated liquidity above $3,000. These levels often attract price movement as traders target stop-loss clusters.
Institutional Interest Drives Momentum
Wall Street’s embrace of Ethereum continued through sustained ETF inflows. The asset gained recognition beyond its tech stock comparisons.
Investors viewed ETH as fuel for decentralized finance applications. Staking capabilities offered additional yield opportunities for holders.
The ETH/BTC ratio showed improvement during the rally period. This metric indicated Ethereum gaining relative strength against Bitcoin.
Ethereum 2.0 upgrades enhanced network efficiency and reduced gas fees. These improvements made the platform more attractive for institutional adoption.
DeFi platforms experienced increased activity on the Ethereum network. Growing usage supported the bullish price predictions from analysts.
Some traders anticipated a pullback to $2,800 before the next leg up. The support zone could provide entry opportunities for swing traders.
Bitcoin’s price discovery phase suggested Ethereum would follow similar patterns. Historical correlations between the assets remained intact during the rally.
