Ethereum Price News: Positive ETF Inflows Could Push ETH to $2.8K

Ethereum (ETH) booked a 6% gain in the past 30 days as the top altcoin broke above the $2,150 threshold.

Crude prices remain above $100 as the United States failed to negotiate a deal with Iran to reopen the Strait of Hormuz and announced a blockade of all of its ports, supposedly with the assistance of a few European countries.

Macroeconomic conditions have not improved as tensions in the Middle East remain high. This has kept a lid on crypto prices and has prevented Ethereum from climbing any further during the weekend.

However, investors seem to be cautiously taking advantage of the latest consolidation to buy, as exchange-traded products (ETPs) received strong inflows last week.

Crypto ETF Inflows Rise to Their Highest Levels Since January

Data from CoinShares indicates that Ethereum-linked vehicles received nearly $197 million during this period. In total, crypto ETPs had their best week since January, bringing in $1.1 billion despite the geopolitical turmoil.

This is a clear sign that market sentiment has improved and that investors could be in “accumulation” mode. That said, whether that means that cryptocurrencies have hit a cycle bottom or not remains to be seen.

James Butterfill, Head of Research at CoinShares, indicated that ETF behavior “reflects a rebound in risk appetite following tentative ceasefire developments in Iran, alongside support from softer-than-expected US spending and CPI data.”

ETH Needs to Stay Above $2,150 to Keep the Rally Alive

Heading to the daily chart, we are once again retesting the $2,150 resistance from above, following a strong breakout above this mark.

Tuesday could be a key day for the markets, as the Producer Price Index (PPI) will be released. This supply-side inflation gauge could start revealing the true impact of tariff decisions a few months after they began to be implemented.

The selling pressure ramped up at $2,300 after a strong uptick on Saturday, making this the key resistance to watch in case bulls dominate the American session today.

As long as the $2,200 support holds, the odds of a move toward $2,350 first and $2,800, our ultimate target, remain high. However, if we lose that support, this could turn out to be another “fakeout”.

Market conditions are far from supportive, as the macroeconomic landscape has deteriorated. Analysts no longer expect a rate cut this year, and oil prices remain above $100. This hurts the global economy and creates uncertainty, neither of which is positive for crypto’s mid-term outlook.

The Relative Strength Index (RSI) hit 60 during the weekend, which further favors a bullish outlook for cryptos, but the jury is still out on this breakout as selling pressure remains strong.

Heading to a lower time frame, we have got three consecutive “buy” signals in the 4-hour chart, indicating strong “institutional” participation in this latest move.

As we emphasized in previous Ethereum price predictions, this breakout created a trading opportunity with an entry at $2,200.

If the rally continues and ETH climbs to $2,800, this trade offers an attractive 3.4x risk-reward ratio.