Ethereum's (ETH) price has decreased by 10% in just three days, but the ongoing inflow of funds into ETFs and growing activity in the ecosystem suggest potential for future growth.
Investments in Ethereum ETFs
Recent data reveals that American institutional and retail investors continue to invest heavily in Ethereum. According to SoSoValue, investors added $2.8 billion to Ethereum ETFs, significantly outpacing the $547 million inflow into Bitcoin ETFs. This marks the fourth consecutive week that Ethereum ETFs have attracted more funds than Bitcoin. Currently, the total assets in Ethereum ETFs stand at $30 billion, with BlackRock's ETHA leading at $15.9 billion.
Technical Analysis of Ethereum Prices
The ETH price chart shows a bullish trend following a bottoming out in April. A golden cross was observed in July, confirming this positive trend. Notably, a cup-and-handle pattern has formed, suggesting further growth potential. The target for this pattern is approximately $6,840, a 55% increase from the current level. However, in the short term, a retest of the support at $4,110 is expected before a possible rebound.
Outlook for Ethereum
Subjectively, the current growth of Ethereum is supported by significant asset volumes in decentralized finance applications and stablecoins. The supply of Ethereum stablecoins has increased by 10% over the past month, reaching $144 billion, while the number of addresses has risen by 30% to 2.6 million. The average transaction volume over the same period was $878 billion, significantly surpassing platforms like Tron.
While Ethereum’s price remains under pressure, the increasing activity in the market and ecosystem indicates that recovery and further growth are realistic. Investors continue to support the token, which could lead to new highs in the future.
