The price of Ethereum increased by 3.15% over 24 hours to reach $3,057, supported by investment flows through exchange-traded funds (ETFs), short selling position liquidation, and positive technical momentum.
$990 million flowed into Ethereum ETFs, marking the largest weekly institutional demand since their launch.
Short selling positions worth $52.7 million were liquidated as the price exceeded the resistance level of $3,000.
The MACD shows a bullish crossover, and the relative strength index (RSI) at 71.5 indicates strong upward momentum.
Detailed analysis
1. Key driver: institutional flows into Ethereum ETFs
U.S. spot Ethereum ETFs attracted net inflows of $907 million last week (CoinShares), the highest since their launch in June 2025. The BlackRock ETH fund alone added $137 million on July 14, reflecting growing institutional confidence. The total assets of Ethereum ETFs now stand at $13.53 billion (representing 3.77% of market cap), creating ongoing buying pressure.
2. Supporting factors: liquidation and overall flows
Short selling positions worth $52.7 million were liquidated as the price exceeded $3,000 (Coinglass), increasing upward momentum.
Total liquidations in the cryptocurrency market reached $748 million, forcing investors to close their short positions.
The fear and greed index is at 70 (Greed), reflecting a risk-on sentiment.
3. Technical context: confirmation of the breakout
The MACD at +53.6 indicates accelerating bullish momentum.
The resistance level at $2,820 (Fibonacci retracement level of 23.6%) has been surpassed.
The price is trading 14% above the 30-day exponential moving average ($2,621), indicating a potential overbought condition.
Summary
Ethereum's rise is associated with institutional accumulation, liquidation of funded positions, and positive technical momentum. While ETF flows provide structural price support, the relative strength index at 71.5 warns of a potential correction or consolidation. Will the $3,000 level continue to act as strong support if Bitcoin's rise halts?