Ethereum Price Surges as ETF Inflows Accelerate, Technicals Point to Further Upside

Ethereum's price has surged to its highest level since January 31 as investors continued to buy in, despite concerns about the US economy. The coin briefly rose above a crucial resistance level of $2,461 and formed key bullish patterns that suggest further upside is possible.

ETF inflows have accelerated this month, with over $327 million pouring into spot Ethereum ETFs since the start of April. BlackRock's ETHA ETF added over $148 million in assets on Friday, bringing its total to $9.1 billion, while Bitwise's ETHW saw $29 million in inflows and BlackRock's ETHB added $18.3 million.

The staking ratio has jumped to 35.2%, with over 43.11 million tokens now staked, which is a sign that investors are holding their tokens for the long term. The total staking market capitalization has reached over $109.47 billion and Ethereum's treasury companies now hold coins worth over $20 billion.