While the ETH price struggles to break the $2,800 resistance level, inflows into spot ETFs have exceeded $861 million, and the amount of staked ETH has reached an all-time high.

In the last two weeks, net inflows to spot Ethereum ETFs reached $861.3 million. At the same time, the total amount of staked ETH also hit a record.

If the ETH price breaks a critical trend line, a strong rise towards the $4,100 level could be targeted with the bullish flag formation.

Ether (ETH) reached $2,880 on June 11, marking the highest level in the last four months, but then experienced a pullback to $2,550.

Many analysts state that $2,800 is an important resistance point and that if this level becomes support, it could trigger a sharp upward movement.

Popular crypto analyst Daan Crypto Trades noted in a comment shared on the X platform on Monday, "The Ethereum price is stuck just below the critical $2,800 mark."

The analyst stated that a convincing close above this level would be a good sign for an upward movement.

"If a sustained breakout occurs above $2,800, it would establish a solid foundation for a rise toward the previous peak around $4,000."

Another analyst, Jelle, shared a chart showing that the ETH price has been moving in a narrow band just below the $2,800 resistance and commented:

"In general, such formations usually result in a strong and rapid movement in one direction."

A series of positive signals indicate that ETH has a high potential to rise above $3,000 in the coming days or weeks.

Spot ETF Inflows Support ETH's Rise

One of the factors supporting the rise in the Ethereum price is the continued institutional demand for spot Ethereum ETFs.

According to Farside Investors data, spot ETH ETFs experienced a brief pause on Friday but saw inflows for three consecutive days from Monday to Wednesday. Notably, on Wednesday, inflows exceeded $19 million.

In the last two weeks, the total net inflow to ETFs reached $861.3 million, indicating the highest levels since January.

This development shows the increasing confidence of traditional financial players in Ethereum despite the initial panic atmosphere caused by the Israel-Iran conflict.

Staked ETH and Accumulation Addresses Hit Records

The amount of staked Ether has increased by more than 500,000 ETH since June 1, reaching a total of over 35 million ETH and hitting an all-time high.

This increase indicates that investor confidence is rising and the liquid supply in circulation continues to decline. If demand remains stable or increases, this could contribute to rising prices.

CryptoQuant analyst OnChainSchool noted in an analysis published on Monday that the accumulation addresses that have not sold for a long time have also reached record levels, holding approximately 22.8 million ETH (worth $58 billion).

This situation reflects strong investor confidence and low selling pressure; this is generally considered a leading indicator of price increases.

The analyst commented:

"When these two indicators are evaluated together, they make Ethereum one of the strongest crypto assets in terms of long-term fundamentals and investor confidence."

ETH Must Break Above the 200-Day SMA

According to Cointelegraph Markets Pro and TradingView data, the ETH price is currently stuck between the 200-day simple moving average (SMA) resistance at $2,600 and the 50-day SMA support at $2,450.

Bulls need to reclaim the 200-day SMA for a sustained rise above $3,000.

The BTC price similarly rose by 40% to $4,100 on December 15, 2024, after breaking this trend line at $3,130 on November 9, 2024.

On the other hand, the bullish flag formation created by ETH signals a potential breakout to around $3,900 on the charts.

If Ether breaks out of the cup-handle formation, it is expected to increase by 51% to $4,200.


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