Current Ethereum Price: $3,110
Ethereum ETFs have recorded six consecutive days of net inflows, with a $146.9 million inflow reported on Thursday. Meanwhile, investors have withdrawn over $300 million worth of ETH from the market in the past 48 hours. If the inverted head and shoulders pattern develops, Ethereum could reach as high as $4,522.
Mixed Behavior Among Ethereum Investors
Ethereum ETFs are experiencing their best week since launch, with a net inflow of $146.9 million recorded on Wednesday, according to Coinglass data. Over six days, total ETF inflows have reached $796.2 million. This positive trend has led to Ethereum ETF net flows surpassing $241.7 million for the first time since their inception.
This growth aligns with data showing Ethereum whales dominating the market. The number of large transactions (exceeding $100,000) has surpassed 10,000 for the first time since August.
Risk from Rising Exchange Reserves
Despite positive trends, investors should be cautious about rising ETH reserves on exchanges, signaling potential selling pressure.
According to IntoTheBlock data, ETH staking outflows have reached a net total of 94,400 ETH, equivalent to over $300 million in the past 48 hours. If these outflows create supply pressure, ETH prices could face a decline.
Meanwhile, Franklin Templeton has expanded its government money fund (FOBXX) to the Ethereum blockchain, enabling investors to hold shares of government securities in cryptocurrency wallets.
Ethereum Price Prediction: Potential Rise to $4,522
Ethereum is currently trading near $3,110 after $57.34 million in liquidations over the past 24 hours. Long liquidations accounted for $34.13 million, while short liquidations were $23.20 million.
ETH rebounded from the 14-day exponential moving average (EMA) after selling pressure near the $3,400 level extended its decline for three consecutive days. This rebound suggests the potential formation of an inverted head and shoulders pattern. If ETH confirms this pattern, it could break its yearly high of $4,093 and rise to $4,522.
On the downside, if the 14-day Relative Strength Index (RSI) crosses below its yellow moving average line, ETH could drop to $2,817. A daily close below this level would invalidate the bullish thesis.
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