Ether bulls aim for $3,000 as BlackRock buying accelerates
Ether (ETH) has been consolidating between $2,300 and $2,800 for 30 days, showing signs of a potential breakout. The 4-hour chart indicates support from the 200-day exponential moving average (EMA) and a hidden bullish divergence with the relative strength index (RSI). Ethereum futures open interest increased by 40% to $36 billion, reflecting growing trader confidence. Spot Ethereum ETFs have seen net inflows for four consecutive weeks, adding 97,800 ETH and totaling 3.77 million ETH. BlackRock has accumulated 1.5 million ETH, investing $500 million recently, indicating institutional interest. Ether-based investment products attracted $296 million in inflows last week, marking the best performance since Trump's 2024 election victory. ETH is above the mid-line of the Gaussian channel, historically signaling potential rallies. Technical analysis suggests a possible price increase to $3,100 to $3,600 if momentum continues.
