The recent rise in Ethereum (ETH) price above $2,600 is accompanied by ongoing positive signals from the market, indicating potential further growth.
Support Signals Above $2,500
According to recent data from Glassnode, over 3.45 million ETH is concentrated in the price range of $2,513–$2,536, which serves as a purchasing zone for many long-term investors. This area acts as a technical and psychological support level, with sellers reluctant to exit at this price.
ETF Inflows Driving Demand
Data from Coinglass shows that spot Ethereum ETF inflows are steadily increasing. While these flows are not explosive, their consistency indicates a growing interest from investors, which may lead to increased demand. The more funds that enter the market, the higher the ETH price tends to rise.
Ethereum Price Growth Prospects
Analysis of Fibonacci levels suggests key resistance for ETH is now around $2,850. If ETH can breach the $2,650 level with sufficient volume, it could signal the potential for new highs.
Thus, the forces in the Ethereum market indicate a possible bullish trend, supported by strong investments and low exchange reserves.
