Ethereum News Today: Ethereum Surges Past $4,300 Amid Strong ETF Inflows and Bullish On-Chain Metrics

Ethereum (ETH) has recently surged past $4,300, entering a crucial phase of price discovery amid strong market fundamentals and rising demand [1]. The price action marks a pivotal development as the cryptocurrency inches closer to its all-time high (ATH), with only 12% separating the current level from a potential breakout [3]. Analysts suggest that if Ethereum sustains its momentum above $4,400, it could signal the start of a broader price discovery phase with significant upward potential [3].

The surge has been supported by a combination of on-chain metrics and institutional adoption. Ethereum’s open interest on Binance has increased by 46% in the past 30 days, reaching $10 billion, while short positions have grown by 500% year-over-year [1]. These figures indicate growing bullish sentiment and the possibility of a short squeeze if the price continues to rise. Additionally, Ethereum’s ETF inflows have exceeded $117 billion, underscoring strong investor confidence [1].

According to analyst Ted, the price reclaiming the $4,100 level demonstrates strong support, which could pave the way for further gains [1]. The rising demand and positive market sentiment are key factors driving Ethereum’s current rally. Meanwhile, analyst Crypto Fella forecasts that Ethereum is poised for price discovery as it approaches the critical ATH level [3]. He notes that once Ethereum enters this phase, its future price movement could be unpredictable but likely upward [3].

Ethereum’s price consolidation near $4,230 within an upward channel indicates that traders are closely watching for a breakout above $4,434. A successful move beyond this level could confirm continued upward momentum [9]. Institutional inflows have also played a significant role, with Ethereum ETFs recording $268 million in weekly inflows—slightly outpacing Bitcoin’s $260 million—according to CoinShares [4]. This comes after a $1 billion outflow early in the week driven by weak U.S. payroll data, followed by a $1.57 billion surge following the approval of crypto assets in 401(k) retirement plans [4].

Year-to-date, Ethereum has attracted $8.2 billion in inflows, pushing total assets under management to an all-time high of $32.6 billion [4]. On-chain activity, including a record number of active addresses and total value staked, further supports the positive narrative around Ethereum’s utility in DeFi, tokenized assets, and staking [4].

While the outlook remains optimistic, some analysts caution that near-term volatility is possible. Ethereum briefly pulled back from $4,300 before consolidating near $4,230 [9]. Traders are also keeping an eye on the upcoming U.S. CPI report, with a cooler-than-expected reading potentially supporting expectations of a September Federal Reserve rate cut [4]. This could further boost risk appetite and drive additional capital into crypto assets with strong fundamentals like Ethereum.

Ethereum’s current price of $4,230 comes with a 24-hour trading volume of $48.95 billion and a slight increase of 0.10% in the past 24 hours [1]. The next critical test for the asset will be its ability to sustain this upward movement and overcome key resistance levels.

Source:

[1] Ethereum Bulls Continue to Charge Toward $12K as Price BRIEFLY Breaks $4,300 (https://bravenewcoin.com/insights/ethereum-eth-price-prediction-ethereum-bulls-continue-to-charge-toward-12k-as-price-briefly-breaks-4300)

[3] Ethereum’s 1.5-Year Resistance Breakout Could Ignite $7,000 Surge (https://bravenewcoin.com/insights/ethereum-eth-price-prediction-ethereums-1-5-year-resistance-breakout-could-ignite-7000-surge)

[4] Bitcoin ETFs Bounce Back—But Ethereum Funds Are on Top (https://decrypt.co/334479/bitcoin-etfs-ethereum-funds-top/)

[9] Page 2 | Ethereum Token / Tether USD on BSC (https://www.tradingview.com/symbols/ETHUSDT_DE67D0.USD/ideas/page-2/?asset=base&sort=recent)