The current Ethereum price range is just below a critical resistance level as spot ETFs attract billions in inflows, signaling growing institutional confidence. With strong technical patterns forming—most notably an inverse head-and-shoulders on the weekly chart—and Ethereum’s dominance across NFTs, DeFi, and tokenized assets, a breakout past $4,100 could pave the way for a surge toward $5,000.
Summary
- Ethereum price was stuck in a tight range on Saturday.
- Data shows that spot Ethereum ETF inflows are soaring.
- ETH has formed an inverse head-and-shoulders on the weekly chart.
Ethereum (ETH) was trading at $3,745 on Saturday, July 26, a few points below the crucial resistance level at $4,100, and 172% above the lowest level in April.
Ethereum ETFs are firing on all cylinders
SoSoValue data shows that spot Ethereum ETFs are thriving as demand jumps. These funds had inflows for eleven consecutive weeks, a sign that institutional investors are accumulating.
They added over $1.85 billion in assets this week, bringing the monthly inflows to $5.1 billion. They now hold over $20.6 billion in assets under management.
BlackRock’s ETHA ETF has continued to lead the charge, adding over $440 million in assets on Friday. It now holds over $10.69 billion in assets, giving it a market share of approximately 50%.
It is followed by Fidelity’s FBTC, which has added $2.3 billion in inflows, bringing its net assets to $2.55 billion.
US investors are likely buying Ethereum because of its substantial market share in key segments of the crypto industry. For example, it is the most popular chain in the non-fungible token sector, where its 30-day sales jumped by 58% to $301 million.
Ethereum is also the most dominant player in the decentralized finance industry, with its total value locked soaring to $186 billion and its dominance hitting 67%. Some of its biggest DeFi protocols are Aave, Uniswap, Sky, and Maple Finance.
Ethereum also leads the real-world asset tokenization industry, with its total assets surpassing $7 billion. Zksync, the biggest player in the sector, has over $7 billion in assets.
Ethereum price technical analysis
The weekly chart shows that the ETH price has been steady in the past few months and is nearing the crucial resistance level at $4100. This is a make-or-break price because it is either the neckline of the inverse head and shoulders pattern or the upper side of the triple top.
Ethereum remains above the 50-week Exponential Moving Average, while the Relative Strength Index has moved close to the overbought level at 70.
Therefore, the most likely scenario is where Ethereum price jumps to the psychological point at $4,000, followed by $4,100. A move above $4,100 will confirm the inverse head-and-shoulders pattern and point to more gains, potentially to $5,000.
