Ethereum Price Stabilized Above $1,900 on Strong ETF Inflows

Ethereum's price remains steady above $1,900, supported by strong inflows into US spot Ethereum ETFs. On August 6, these funds saw a total of $92.15 million in investments, and for the week, the figure rose to $244.94 million, the highest in nearly four months.

This influx of capital is also bolstered by disappointing US employment data, which lowered expectations for Federal Reserve rate hikes, benefiting risk assets like cryptocurrencies.

Market watchers see $2,000 as the next major resistance level for Ethereum, with potential for a rally if the price sustains above $1,900 and clears the 200-day moving average at $2,061.