Ethereum's Ether Sees 9% Gain, Investors Pour $295M in One Week

Ethereum’s native token, Ether, has maintained a range between $2,300 and $2,800 over the past 30 days. Veteran chart expert Peter Brandt suggests that this sideways movement may be nearing its end, potentially leading to a significant rally. Brandt’s analysis indicates that Ether has transitioned from a descending channel to a symmetrical triangle structure, a pattern that historically precedes a strong upsurge.

Brandt’s recent post highlighted how Ether’s price has been confined within a descending channel since December 2024, when it surpassed the $4,000 mark. Key resistance and support levels were tested, including $3,700 in January and $1,390 in April. The breakout from this channel in mid-April led to the formation of a symmetrical triangle pattern, which is often seen as a consolidation phase before a substantial price increase.

On June 10, Ether’s price stood at $2,773, reflecting a 9% increase over the previous 24 hours. Brandt’s optimistic outlook suggests that the asset could be poised for an even more substantial rally, commenting, “Every dog has its day — woof woof ETH.” This shift in Brandt’s perspective aligns with the renewed optimism surrounding Ethereum.

Global Ether-based investment vehicles have continued to attract significant inflows, with net inflows exceeding $295 million last week. This marks the seventh consecutive week of inflows, totaling $1.5 billion. According to the head of research, this represents the strongest run of inflows since the US election last November and indicates a significant recovery in investor sentiment.

U.S.-listed spot Ether exchange-traded funds (ETFs) have also shown remarkable performance, drawing in $837.5 million since May 16. This reflects strong institutional confidence in the altcoin, despite its price being 43% below its all-time high. If the positive trend persists, net inflows since the products debuted last year could surpass $1 billion, a crucial milestone for Ethereum bulls.