Citigroup Raises Ethereum Price Target to $3,028, Citing Steady Inflows

Citigroup has raised its 12-month Ethereum price target to $3,028, citing slower but steady crypto inflows and a positive macroeconomic environment. The investment bank notes that the resumption of inflows into spot Exchange-Traded Funds (ETFs) is also supporting Ethereum's outlook. According to a report from Citigroup, $5 billion in inflows into crypto ETFs are expected over the next 12 months, although these inflows may be slow but steady.

Ethereum is currently trading at around $2,689, maintaining a bullish bias despite remaining range-bound between $2,600 and $2,800. The pair holds well above the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), while the SuperTrend line at $2,434 reinforces this underlying support structure. The Relative Strength Index (RSI) near 63 suggests healthy, but not extreme, positive momentum, while the Moving Average Convergence Divergence (MACD) remains slightly negative, suggesting upside continuation could proceed at a more moderate pace.

A breakout above the upper limit at $2,800 would encourage more traders to take on more risk, alleviating buyer exhaustion. However, losses below the lower $2,600 range limit may trigger an extended sell-off. The Fear & Greed Index, which sits at 74 in the Greed territory, suggests buy-side pressure could help stabilize crypto prices, increasing the odds of Ethereum's recovery.