Ethereum Today's Price: $1,780
- Ethereum ETFs record highest net inflows since February 4.
- Over $150 million flows into Ethereum exchanges in the past two days.
- ETH faces rejection at 50-day SMA, with bulls eyeing key descending channel resistance.
Ethereum (ETH) rose 2% on Wednesday as U.S. spot Ethereum ETFs recorded their largest inflows since February 4. However, the top altcoin may face a pullback after encountering resistance at the 50-day Simple Moving Average (SMA).
ETH ETF Inflows Rise Amid Spot Exchange Sell-Off Activity
Following ETH's 13% surge on Tuesday, institutional investors turned bullish, driving $38.8 million in net inflows to U.S. spot Ethereum ETFs. This marks the first net inflow since April 4 and the largest since February 4.
Fidelity's FETH and Bitwise's ETHW contributed $32.7 million and $6.1 million, respectively.
The inflows come at a critical juncture, with ETH's dominance dipping below 7% and cumulative ETF outflows nearing $1 billion since February 20. Sustained investor interest could propel ETH's price upward.
Despite bullish signals, spot investors appear to be capitalizing on the rally. Data from Coinglass shows Ethereum's exchange net inflows spiked by over $150 million in the past two days.
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Ethereum Price Prediction: ETH Faces Rejection at 50-Day SMA
Per Coinglass, Ethereum's futures liquidations totaled $81.82 million in the past 24 hours, with $30.72 million from longs and $51.11 million from shorts.
ETH briefly surpassed the $1,800 resistance but was rejected at the 50-day SMA before testing the upper boundary of a key descending channel—a range it has traded within since December 16.
A successful channel breakout could convert this boundary into support, fueling bullish momentum toward the $2,000 psychological level.
On the downside, ETH must hold the $1,688 support to maintain its bullish bias.
The Relative Strength Index (RSI) sits above neutral, while the Awesome Oscillator shows fading green bars below midline. A breakout would strengthen bullish momentum. Meanwhile, the Stochastic Oscillator enters overbought territory, signaling potential short-term consolidation.
FAQ Section
1. What’s driving Ethereum’s recent price surge?
Increased institutional inflows into ETH ETFs and anticipation around the Pectra upgrade (scheduled for May 7) are key catalysts.
2. How significant are the ETF inflows?
The $38.8 million inflow is the highest since February, signaling renewed institutional confidence despite earlier outflows.
3. What’s the critical resistance level for ETH?
The 50-day SMA (~$1,800) and the descending channel’s upper boundary are immediate hurdles. A breakout could target $2,000.
4. Could ETH face a pullback?
Yes, overbought signals on the Stochastic Oscillator suggest short-term consolidation, but long-term trends remain bullish if $1,688 holds.
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Keywords: Ethereum price prediction, ETH ETF, descending channel, 50-day SMA, Pectra upgrade, ETH resistance levels, crypto market trends
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