Against the backdrop of Bitcoin's turmoil, Ethereum (ETH) has shown surprising resilience—consistently holding above $2600, becoming a rare bright spot in the market. Currently, the attention around Ethereum is rapidly heating up, especially as ETF funds continue to flow in, and the market is beginning to anticipate: will the next king to challenge the $3000 mark be Ethereum?
Resisting corrections, Ethereum shows signs of divergence
Despite the volatility of Bitcoin causing some investors to sweat, Ethereum has quietly maintained crucial support. The daily chart shows that the ETH price is consolidating near $2699 (50% Fibonacci retracement level), currently quoted at $2625, with a slight decline of 1.88% on Thursday. Overall, the trend remains within a strong consolidation range.
It is noteworthy that the 61.8% Fibonacci level is approximately around $3000, which is not only an important resistance level from a technical perspective but also a psychological barrier. Meanwhile, the super trend indicator continues to point upwards, and the RSI indicator is approaching the overbought zone, suggesting that there is still strong bullish momentum in the market.
From the support perspective, the 38.2% Fibonacci retracement level at $2380 forms a short-term defense line, establishing a solid safety cushion for Ethereum.
Institutional positioning, ETFs become new momentum
What’s more encouraging is that institutional interest in Ethereum is rapidly heating up. On May 29, the net inflow of ETH-related ETFs reached $91.93 million, marking the ninth consecutive day of positive inflow, with a cumulative scale approaching $9.63 billion.
Leading the way is BlackRock, with a net inflow of $50.45 million on that day, closely followed by Fidelity, contributing $38.31 million. This trend indicates that large funds are providing strong downside support for Ethereum and fueling future price breakthroughs.
It is important to know that continuous inflows of ETF funds usually indicate that leading institutions are quietly positioning for long-term holdings, and this behavior often precedes a bull market cycle.
Is $3,000 not the end?
Market analysts are equally optimistic. The well-known account Income Sharks recently pointed out that after ETH broke through the critical resistance of $2400, although there was a slight pullback, it remains in an upward channel, with $3,000 being the first target for the near future. More aggressive predictions suggest that if the overall bull market continues, $4,000 is not an impossible vision.
Of course, the market is never smooth sailing. In the past 24 hours, the open interest in Ethereum has decreased by 4.83% to $35.59 billion, with long liquidations rising to $94.23 million, far exceeding the short liquidations of $17.08 million. This indicates that short-term funds are beginning to show divergence amid high-level fluctuations.
However, it is worth noting that the financing interest rate remains stable at a high level of 0.0083%, which indicates that the market's bullish sentiment is still strong. The short-term fluctuations may even present a good opportunity for new funds to position themselves.
Understanding Ethereum, is it based on feeling or data?
At present, ETH seems to be at an important turning point. For ordinary investors, facing the changing market, making decisions solely based on feelings or fragmented information is akin to blind men feeling an elephant.
At this moment, an efficient and intelligent analysis tool becomes crucial. For example, Mlion.ai, through on-chain data analysis, social sentiment monitoring, and price trend forecasting modules, can capture subtle market changes in real-time, helping you gain insights into capital flows and price momentum, and even automatically generating personalized trading strategies and phased operational guidelines based on AI models.
Whether you want to grasp Ethereum's medium to long-term trends or find precise trading opportunities amid volatility, platforms like Mlion.ai can provide data support that is far more reliable than instinct.
Conclusion
Bitcoin corrects, while Ethereum holds firm; capital divergence, sentiment unchanged. $3,000 seems just around the corner, but the real challenge is just beginning.
For millennials and many emerging investors, the future belongs to those who can discern trends from data and respond calmly amidst volatility. In this stormy new era of digital currency, leveraging AI investment research assistants like Mlion.ai may be the key to remaining undefeated in the next bull market.
The above content is for information sharing only and does not constitute any investment advice! Investment carries risks, and caution is needed when entering the market!