Ethereum is experiencing impressive growth, reaching over $4,170 after record inflows into ETFs and increased institutional accumulation.
ETF Inflows and DeFi Growth Boost ETH Price
Ethereum ([ETH](https://crypto.news/price/ethereum/)) surged to a high of $4,170, its highest level since December 2021 and nearly 200% above its lowest level this year.
Demand from U.S. investors is high, evidenced by SoSoValue data showing spot Ethereum ETF inflows jumped by $326 million this week.
These funds have seen inflows for 14 consecutive weeks, totaling $9.8 billion. BlackRock’s ETHA ETF has seen cumulative inflows of $9.85 billion and holds net assets of $12.35 billion.
Additionally, Ethereum treasury companies like SharpLink continue to accumulate these tokens. SharpLink Gaming acquired 22,000 ETH this week, bringing its total assets to $2.17 billion.
Technical Analysis of Ethereum's Price
The three-day chart indicates that the ETH price has been in a strong bull run since April when it bottomed at $1,392. Recently, a golden cross pattern was formed as the 50-day and 200-day moving averages crossed each other.
Ethereum also formed an inverse head-and-shoulders pattern, with its neckline at $4,090. This pattern consists of a head at the April low of $1,392 and two shoulders at $2,153.
The distance between the head and shoulders is $2,700. Adding this amount to the neckline yields a target price of nearly $6,800, representing a 68% increase from the current level.
Future Outlook for Ethereum
The growth of Ethereum is also supported by an increase in total value locked (TVL) in decentralized finance, which has reached $195 billion. Ethereum's market share in the stablecoin sector has increased, with the total industry supply reaching $137 billion. These factors may position Ethereum as a top beneficiary from the recently signed GENIUS bill in the United States.
With strong investor demand and increasing institutional accumulation, Ethereum continues to show positive momentum, laying the groundwork for further price growth.
