The current price of Ethereum is aiming for resistance levels as demand from institutional investors rises, which could lead to significant gains.
Growth of Ethereum ETFs
Data shows that Ethereum ETFs are demonstrating steady growth. Over the past eleven weeks, sustained inflows have been observed, indicating accumulation by institutional investors. This week, more than $1.85 billion was added, bringing the monthly total to $5.1 billion.
Technical Analysis of Ethereum Prices
The weekly chart shows that Ethereum's price is steadily moving toward the crucial resistance level of $4,100. This level may confirm an 'inverse head-and-shoulders' pattern, suggesting a potential rise towards $5,000.
Ethereum's Leading Positions in the Crypto Industry
Ethereum remains a dominant platform in the non-fungible token (NFT) and decentralized finance (DeFi) sectors. The total value locked in Ethereum has risen to $186 billion, holding a 67% market share.
Ethereum is at the intersection of significant resistance levels and rising institutional investments, which may lead to its growth in the near future.
