Ethereum is currently experiencing a slight recovery. This follows the general crypto market recovery with total crypto market cap hitting $1.23 trillion, excluding the market cap of Bitcoin (BTC). On the day, Ethereum is up by a slight 0.12% and is currently trading at 2,797.13. Will the price surge further after hitting a record high in ETH ETF inflows?
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ETH Records Massive ETF Inflows
Tuesday 4th Feb saw Ethereum receive the highest inflows since 2025 started. As posted on X by top crypto analysts, Crypto Rover, data on SosoValue shows that ETH ETF inflows totaled up to $307.77 Million on the day.
The rapid growth of ETF investments indicates that institutions expect positive developments for ETH. Amongst all the tokens bought yesterday, the largest purchase was executed by BlackRock as the institution acquired ETH tokens worth $276.16M.
Another purchase came from Fidelity which acquired $27.47 million while Bitwise made a purchase of tokens worth $4.14 million.
Price Performance and Technical Outlook of ETH
The crypto market is currently struggling with price volatility as a Trade War looms. Because of this, the price of ETH has followed a similar trajectory as that of BTC. As of the time of writing, ETH is trading at 2,797.13 marking just a slight 0.12% increase.
However, technical indicators also point to a moderate bullish momentum. For instance, the RSI is at 55.96 indicating a gentle upward movement. On the other hand the MACD also shows a crossover that is bullish. The MACD line is seen approaching the signal from below.
Ethereum maintains $2,818.29 as its short term resistance level while the short-term support is at $2,747.03. If prices push above the resistance level, the market might see Ethereum surge to higher levels like the psychological $4,000 point. However, besides the massive ETF inflows experienced, other market conditions have to be favorable for this to happen.
