BlackRock's Bitcoin and Ethereum ETFs generate more revenue than its main S&P 500 fund
ETH heading to $3,200: Strategies and Key Factors
🔍 1. Technical Recovery and Momentum
- After a sharp drop to $2,188, ETH has already recovered more than 23% in less than 36 hours, showing buying strength.
- The price is consolidating between the exponential moving averages EMA(7) and EMA(25). A breakout above EMA(99) at $3,132 could trigger a direct move to $3,200–3,230.
📊 2. Optimistic Technical Indicators
- The stochastic RSI is coming out of oversold conditions, signaling potential upward momentum.
- The traditional RSI is neutral (around 50), allowing space for advancement without overbought conditions.
🏦 3. On-Chain Fundamentals and Derivatives
- The ETH futures premium has risen back above 6%, indicating healthy demand for leverage and trader confidence.
- Activity on the Ethereum network remains strong, with increasing use of stablecoins and layer-two solutions.
🧾 4. ETF Narrative and Institutional Flow
- The expectation around ETH staking ETFs in the U.S. is attracting institutional capital and strengthening the long-term narrative.
- The “Pectra” upgrade also boosts confidence in the network's scalability and efficiency.