#MarketRebound Accumulation of ETH BlackRock, key price metrics predict Ethereum rally to $3K

Increasing open interest in futures, strong ETH spot ETF inflows, and bullish technical analysis indicators predict a price rally for Ethereum towards $3,000.

Key points:

Open interest in Ether futures has surged 40% in the last 30 days, while ETH spot ETFs recorded four consecutive weeks of inflows.

The ETH Gaussian channel indicator suggests a rally towards $3,100 to $3,600 could occur.

The native token of Ethereum, Ether

$ETH

ETHUSDT

Perpetual

2,677.54

+7.36%

, has consolidated between $2,300 and $2,800 over the past 30 days, but this sideways phase may soon come to an end. The 4-hour chart shows ETH maintaining support from the 200-day exponential moving average (EMA), and the price is forming hidden bullish divergence with the relative strength index (RSI). Hidden bullish divergence occurs when the price makes a higher low while indicators like the RSI make a lower low, signaling a trend breakout.

Data on open interest in Ethereum futures (OI) from CoinGlass shows a 40% increase to $36 billion from $26 billion over the last 30 days, reflecting rising confidence among traders amid price consolidation, a pattern that tends to precede breakouts.

ETH spot ETFs surge as BlackRock continues to buy

Ethereum spot exchange-traded funds (ETFs) recorded their fourth consecutive week of net inflows, adding 97,800 ETH, pushing total holdings to 3.77 million ETH.

Meanwhile, BlackRock is quietly accumulating Ethereum, holding 1.5 million ETH ($2.71 billion) under custody and tokenizing assets on the blockchain. This asset management company has purchased $500 million in Ethereum over the last 10 days, reflecting institutional confidence in the altcoin, despite its price being 48% below its all-time high.

Cointelegraph reported that Ether-based investment products led inflows among crypto ETPs last week, attracting $296 million despite a slowdown.