#BinanceTurns8 Will the bulls be able to take advantage of ETH ETF purchases to achieve a close above 2,700 dollars?

A flow of positive news, a shift in investor sentiment, and the constant buying of ETH ETFs could help Ether rise above 2,700 dollars.

Key point:

Ether seeks to establish a new trend, but the bulls need to secure a daily close above 2,635 dollars first.

The price of Ether ETH 2226 € has been in a range for several days, but institutional investors seem to be quietly accumulating. Ether Exchange-Traded Products (ETPs) recorded inflows of 225 million dollars during the trading week that ended on Friday, according to data from CoinShares. It was the 11th consecutive week of inflows into Ether ETPs.

Could sustained buying of Ether ETPs push the price above the upper resistance? Let's analyze the charts to find out.

Ether price prediction

Ether has remained above the 20-day exponential moving average (2,507 dollars) for the past few days, indicating a positive sentiment among traders.