Ethereum has taken center stage in the crypto market’s latest rally, climbing by 4.22% in the past 24 hours to $4,154.55. This price move is even more striking against a backdrop where the broader crypto market managed only a 1.43% uptick.
Wondering what’s driving ETH’s outsized gains? 3 factors stand out: ETF inflows, a softer stance from the U.S. Fed, and a technical rebound. These elements are giving traders fresh optimism and hint at Ethereum’s unique position as both a market leader and a bellwether for risk appetite.
After a choppy period of outflows, Ethereum ETFs have swung back into favor with investors. On October 14, spot ETH ETFs saw a robust $236.2 million in net inflows. This influx not only adds liquidity but also shows that large marketers may be positioning ahead of possible regulatory clarity.
The total net assets invested in these ETFs now exceed $28 billion, according to SoSoValue, underscoring ETH’s maturing role in portfolios. This surge in ETF demand played a significant role in powering Ethereum’s latest price leap.
Ethereum’s technical backdrop is gradually improving after testing critical support. The ETH price rebounded sharply from the $3,954 Fibonacci level. This is a zone that aligned with the 200-day EMA at $3,139, confirming strong buyer support. Momentum, however, is still mixed, as the MACD indicator remains negative at -56.39.
Open interest in derivatives dropped 7.6%, reducing the risk of volatile liquidations. Short-sellers appear exhausted for now, leaving ETH primed for upward moves if bulls continue to defend the $4,100 zone. The next major resistance levels are $4,250 and $4,449 (23.6% Fibonacci retracement). With trading volumes up 14.24% over 24 hours, price discovery above resistance levels is in play, provided wider market sentiment holds.
Ethereum’s price jump is driven by renewed ETF inflows, dovish signals from the Fed hinting at potential rate cuts, and a strong technical bounce from oversold support levels.
Yes, spot ETH ETFs attracted $236.2 million in inflows on October 14, indicating renewed institutional interest.
Traders should monitor support at $4,100 and $3,954, with resistance at $4,250 and $4,449, where potential upside or rejection could occur.
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