Ethereum Price Rally Set to Continue Amid Bullish Indicators
Ethereum's price has been on an upward trend in recent weeks, and several technical indicators suggest it may continue to soar in September. One reason for this optimism is the formation of bullish chart patterns, including a golden cross pattern, which occurs when the 50-day Weighted Moving Average crosses above the 200-day one.
Additionally, Ethereum's price has remained above the Supertrend indicator and Bollinger Bands have compressed, indicating a potential breakout. This compression also suggests that volatility has softened in recent days.
Fundamentals also point to a strong bullish trend for ETH, including soaring ETF inflows. According to SoSoValue, these funds added over $87 million on August 31, with cumulative inflows reaching $13 billion and assets under management exceeding $15 billion.