Ethereum Trend Reversal: Analyst Flags Bullish Shift Amid Strong August Gains
Ethereum (ETH) posted its best month since July 2025 in August, gaining 32.5% and attracting $1.85 billion in net inflows into US spot ETH exchange-traded funds.
The surge was largely driven by institutional investors, with whale wallets accumulating 430,000 ETH during the month while retail investors sold off their holdings.
The recent price move has led analyst BATMAN to flag a trend reversal back to bullish after nearly a year of bearish price action. He noted that the 50-day moving average, which previously rejected ETH multiple times, is now acting as support.
Despite the strong performance in August, Ethereum has struggled to break above $2,550, with long positions building aggressively around current prices and open interest reaching roughly 4.973 million.