Source: SoSoValueThe increase in institutional demand was reinforced by net inflows of $183 million into Ethereum investment products last week, ending an eight-week streak of outflows, as reported by CoinShares. This trend reflects growing confidence among traditional finance players, as observed by market analysts like CoinShares' head of research, James Butterfill, who noted:“We believe concerns over the tariff impact on corporate earnings and the dramatic weakening of the US dollar are why investors have turned toward digital assets, which are being seen as an emerging safe haven.”Institutional buying creates sustained upward pressure on Ether’s price by absorbing the available supply.
However, this is significantly lower than the 78% and 44% increases on SUI and Solana, respectively. Related: Ethereum Foundation shuffles leadership, splits board and managementETH price bull flags targets $2,100The ETH/USD pair has a good chance of resuming its upward momentum despite the rejection at $1,860, as the chart shows a classic bullish pattern.
Several analysts argue that the ETH price needs to hold above $1,800 to increase the chances of rising higher.“Once ETH confirms this 4H close above resistance [$1,800], Ether and altcoins will finally get their time to shine,” trader Kiran Gadakh said in an April 29 post on X. “I can feel it in my bones, $2,000 ETH coming fast.” ETH/USD 12-hour chart.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by Nancy Lubale
The story "Ethereum price has several reasons to break $2,000 next" has 651 words across 28 sentences, which will take approximately 3 - 6 minutes for the average person to read.
Which news outlet covered this story?
The story "Ethereum price has several reasons to break $2,000 next" was covered 14 hours ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 33 news stories per day.
It's most recent story was published 7 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Negative, indicating that people regard this as "bad news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
