Ethereum Takes Back Crucial Zone as Institutional Demand Strengthens

Ethereum's recent surge has brought it back to a crucial level after 108 days. The zone around $2,500 is significant as it marks the bottom end of demand that had been building for months at $1,900-$2,050.

The rapid advance by Ethereum into new ground stalled out just shy of $2,458, indicating that bulls were yet to establish a solid floor at $2500. However, this pause suggests that the bull run has not yet triggered an exodus.

ETF inflows have strengthened institutional demand for Ethereum, with total weekly inflows hitting $824.42 million and total ETF assets climbing from $10.52 billion on August 14 to $15.23 billion, a 5.28% increase.