Ethereum Price Prediction: Mild rebound


Current Ethereum price: $2,600

After breaching over its 50-day EMA at $2,535, Ethereum consolidates, signaling a rise.

Monday saw $17 million influx into US spot Ethereum ETFs.
Ethereum open interest rose over 16%, signaling fresh purchasing.

After breaking resistance levels with a 6.5% surge on Monday, Ethereum (ETH) stabilizes around $2,600 on Tuesday. Inflows into Spot ETFs and a rise in open interest suggested a minor rebound and a continuation of the climb.

Best daily increase in two months for Ethereum
CoinGlass reported a $17 million Monday inflow for the US Ethereum spot ETF. ETF flow data may reveal institutional investors' Ethereum attitude. If influx continues, Ethereum demand will climb, raising its price.

Coinbase Premium, which measures the price disparity between Coinbase Pro (USD pair) and Binance (USDT pair), is a significant statistic for understanding large-wallet investor behavior since it indicates whale accumulation tendencies. This is crucial since Coinbase Pro is a major institutional bitcoin gateway.

Ethereum's Open Interest (OI) jumped 15.47% from $8.4 billion to $9.7 billion on Monday, outperforming its 6.5% price increase. It's the fastest daily rise in five months.

Increasing OI indicates fresh money entering the market and purchasing, fueling a bullish trend. When OI drops, the market is liquidating, investors are fleeing, and prices may fall.

If 50-day EMA holds, Ethereum price may rise.
Ethereum gained 6.5% to close above its 50-day Exponential Moving Average (EMA) at $2,535 on Monday after breaking daily resistance at $2,461. As of Tuesday, it trades marginally lower at $2,600.

ETH might climb to $2,820 if the 50-day EMA around $2,535 holds.

The daily MACD indicator supports Ethereum's climb with a bullish crossing. Monday saw the MACD line cross the signal line, signaling a buy. It displays growing green histogram bars above neutral line zero, signaling Ethereum's price may rise.

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