Ethereum maintained its position above $2,700 on Tuesday, buoyed by a robust weekly rally that lifted its price by 14%. The cryptocurrency, which ranks second by market capitalization, hovered around $2,760 after reaching an intraday high near $2,804 during the session.
Spot ETF inflows signal renewed institutional demand
Investor focus has intensified on United States-based spot Ethereum exchange-traded funds (ETFs), which recently showed a spike in trading activity. These ETFs recorded approximately $270 million in net inflows within a single day, marking the strongest daily performance since October. Over two consecutive days, new inflows totaled about $413.8 million, effectively reversing a prior three-day run of outflows and indicating a renewed appetite for Ethereum among institutional investors.
Spot Ethereum ETFs in the U.S. drew about $270 million in one session, pushing the two-day figure to around $413.8 million and ending three consecutive days of outflows. This signals accelerating institutional interest in ETH as capital shifts back into the sector.
On-chain analytics tracked by Lookonchain also identified notable activity from large holders during this period. One whale increased its holdings by 4,500 ETH and now holds nearly 37,000 coins. Another significant player exchanged 200.71 BTC for 6,247 ETH; throughout six days, this wallet traded 1,308 BTC for 40,670 ETH before moving the entire sum into staking.
Whales and corporate accumulators increase ETH exposure
BitMine Immersion, a prominent corporate Ethereum holder, reportedly acquired another 12,500 ETH this week. The firm had added 27,562 ETH the previous week, which brought its total accumulation close to 5.98 million ETH—representing an estimated value of $16.5 billion at prevailing prices. BitMine’s Chairman, Thomas Lee, stated that the group views Ethereum’s third-quarter price performance as a foundation for possible momentum in the coming quarter.
Derivatives activity also reflected surging interest: total futures open interest for ETH approached $36 billion, with CME open interest rising more than 8% during the week.
Key resistance and market sentiment
Technically, Ethereum met resistance at approximately $2,786, which traders now identify as a critical barrier for near-term gains. Additional resistance points have been observed near $2,894 and $3,177. Despite this, ETH continues to trade securely above key daily exponential moving averages, with the 20-day EMA now around $2,537.
Momentum indicators show Ethereum in overbought territory, with the Relative Strength Index near 71 and the Stochastic Oscillator above 90. Technical analyst Ted noted that Ethereum has reached the $2,800 resistance region, currently testing its 100-week simple moving average. He shared that a weekly close above this level could open the path toward the $3,300 to $3,400 zone, while a failure might send ETH back toward $2,550.
A sustained close above Ethereum’s 100-week average may signal a move toward $3,300–$3,400, while a reversal could see support revisited near $2,550, according to analysts observing market trends.
Providing a longer-term perspective, trader Peter Brandt analyzed Ethereum futures and estimated a price target near $8,674—should ETH achieve a decisive breakout above $5,000.
As the market closely observes resistance and support levels, tracking not only price action but also investor behavior has become essential—especially in the rapidly evolving meme token segment. Here, an internet trend can transform into millions of dollars of trading volume in days. Fomo App, which integrates token discovery with social feeds, investor rankings, and timely notifications, highlighted a recent trade where an initial $99 investment in “Niu Lai” grew to approximately $370,000, illustrating the pace and scale of meme token activity.
At present, Ethereum remains below the $2,786 resistance. Immediate support has formed in the $2,626 to $2,544 range, keeping traders attentive to upcoming market shifts.
