TL;DR
- Ethereum jumped 5.4% in under 24 hours, climbing from $2,513 to $2,678, with trading volume exceeding 550,000 ETH, breaking through key levels.
- The price established support at $2,530 after 242,521 ETH traded, broke resistance between 06:00 and 07:00, and cleared $2,600, which now acts as new technical support.
- Ethereum spot ETFs attracted $248 million in net inflows last week, led by BlackRock with $136.4 million.
Ethereum managed to recover after several highly volatile sessions. In less than 24 hours, its price rose 5.4%, moving from $2,513 to $2,678. This rally came with exceptional volume, surpassing 550,000 ETH during the early hours of the day, forming a technical pattern that helped break through key levels.
That pattern unfolded in three clear stages. First, a support phase around $2,530, where 242,521 ETH traded, establishing a solid floor. Then, a decisive breakout between 06:00 and 07:00, with volume peaks hitting 553,348 ETH and 221,502 ETH within minutes. Finally, the price held its upward momentum, moving past the $2,600 resistance, which now serves as a new technical support level.
Meanwhile, Ethereum spot ETFs continue to attract institutional capital. Just last week, they pulled in $248 million in net inflows. BlackRock led that movement through its ETHA fund, which raised $136.4 million. The strong interest from large investors contrasts with still-moderate retail participation, showing how institutional capital is currently driving the market’s latest moves.
Major Institutions Are Driving Ethereum’s Market Action
Technical analysts are already watching the $2,650 to $2,745 range as the next target. In that zone, many investors who bought before recent dips may look to exit at break-even levels, potentially adding selling pressure. Even so, the recent breakout from consolidation and the overall behavior of the crypto market suggest buyers will likely stay in control as long as the price holds above $2,600.
The $2,530 level now stands as structural support for potential pullbacks. Momentum indicators still point to room for further gains, provided trading volumes remain close to recent highs. For now, this dynamic confirms that institutional demand is setting the pace in Ethereum’s market
