Ethereum Closes in on $2,000 Despite Mixed Investor Sentiment

Ethereum is trading in the green on Wednesday, despite mixed signals from various on-chain and derivatives indicators. The positive performance over the past 24 hours comes after a poor start to the week.

According to recent data, holdings across major wallet groups have changed only modestly, while exchange net flows remained close to neutral.

The US spot Ethereum Exchange-Traded Funds (ETFs) showed some improvement at the beginning of the week, with $30.85 million and $71.47 million in net inflows on Monday and Tuesday, respectively. However, broader American investor sentiment remains weak.

From a technical perspective, ETH retains a mildly bullish short-term bias above its 20-day and 50-day Exponential Moving Averages (EMAs). The 100-day EMA and the horizontal resistance at $1,961 continue to limit its recovery.