Ethereum Price Soars Above $2,600 Amid ETF Inflows

Ethereum's price has broken above $2,516, driven by a significant inflow of $216 million into Ethereum ETFs. This surge is the highest since late August and occurred despite Goldman Sachs' warning of a likely 25 basis point rate hike by the Federal Reserve to combat inflation.

Analysts remain optimistic, suggesting that if Ethereum surpasses a supply wall between $2,700 and $2,800, it could reach $3,000. This is supported by increased whale activity and strong ETF demand.

A price breakout above $2,516 signals potential for further gains, although a drop below $2,390 could invalidate this bullish outlook.