Ethereum Price Stagnates at $2,686 Amid ETF Inflows and Resistance Levels
Ethereum's price has remained relatively flat at $2,686 following a modest gain on the day. The asset is currently trading below its short-term moving average but above its mid-term average.
The recent surge in Ethereum ETF inflows has been significant, with net inflows totaling $746.5 million over five consecutive days. This brings the cumulative net inflows since launch to approximately $13.85 billion.
BlackRock's iShares Ethereum Trust led the ETF contributions, receiving $26.8 million in new capital on the same day that staked ETH on the network increased by 1.68 million tokens queued for staking and 154,000 set to be unstaked.