Ether prices have been trending in a range for several days, but institutional investors continue to accumulate the asset. This article analyzes current trends and future predictions.
Overall Market Trends for Ether
Ether prices have remained stable, maintaining above the 20-day exponential moving average ($2,507). Institutional investors recorded $225 million in inflows into Ether-related products (ETPs) for the trading week ending Friday, indicating positive sentiment in the market.
Breaking Through Resistance at $2,635
To pave the way for the next resistance level at $2,738, bulls need to push the price above $2,635. Conversely, if the price closes below the 20-day EMA, it could signal weakness among buyers.
Technical Analysis and Predictions
On the 4-hour ETH/USDT chart, a symmetrical triangle formation indicates market indecision. A break above will suggest chances for a rise to $2,751, while a downward break could lead to a drop to $2,364.
Current trends show that Ether remains under market pressure, with critical growth levels being $2,635 and $2,738. Institutional buying may provide support, but breakthroughs are necessary for confident growth.
