Key Points
Data from Farside Investors shows a surge in daily inflows into Ethereum (ETH) ETFs in the U.S.
These inflows have reached $305.74 million, with cumulative inflows now totaling an impressive $1.87 billion.
This growth has happened even as Ethereum’s price experienced a 7% decline over the past three days.
Investment and Price Trends
These investment products saw their highest cumulative weekly inflow last week.
Inflows remained consistently positive throughout December, indicating strong institutional interest.
For example, inflows on Dec. 6 reached $83.76 million, while Dec. 5 saw a higher figure of $428.44 million.
This marked a new all-time high in net inflows.
The total net assets now stand at $12.46 billion, with an addition of $1.33 billion in December alone.
Ethereum’s price is currently in a delicate position.
It is trading within an ascending broadening wedge pattern, which typically signals potential volatility.
At the time of reporting, Ethereum trades for $3,688, down 1.27% over the past 24 hours.
However, it maintains its position within the wedge.
The Fibonacci retracement levels indicate key zones of support and resistance.
Ethereum is currently testing the 78.6% level at $3,718.
If it fails to sustain this level, the next support lies at the 61.8% retracement of $3,425.
On the upside, breaking above $3,718 could lead to a move toward $4,091, the next critical resistance level.
The Directional Movement Index shows the +DI has dropped to 22.1, while the -DI has risen to 20.6.
This signals increasing bearish pressure.
The ADX stands at 37.4.
A sustained drop in the +DI alongside a rising -DI could flip the momentum decisively bearish.
Despite these bearish signals, Ethereum’s overall trend remains upward.
The ascending wedge pattern’s lower boundary currently acts as a vital support level.
A breakdown below this trendline would signal a bearish reversal and could prompt a retest of lower support zones such as $3,220 or $3,014.
Please note that this article does not represent investment advice.
The content and materials featured are for educational purposes only.
