Ether Holds Firm Above $2,600 as Spot ETF Demand Sparks Renewed Bullish Momentum
Ether (ETH) maintained strength Monday, trading above the $2,600 threshold following a record weekly inflow into spot ETH ETFs, signaling growing institutional interest and confidence.
The token climbed to a peak of $2,650.18 before easing back to around $2,617, per analysis from CoinDesk Research.
With $321 million flowing into ether-related investment products—the highest weekly inflow since December—market sentiment is buoyed despite slight retracements in price momentum.
In addition, the decline in ETH balances on centralized exchanges highlights a trend toward self-custody, indicating that investors are accumulating rather than selling.
Technical Highlights:
- ETH’s 24-hour trading range was $172.87 (6.97%), reaching a high of $2,650.18.
- A critical resistance near $2,550 was surpassed with a trading volume of 288,000 ETH.
- Price consolidation is occurring above the $2,600 level, with strong support found between $2,610 and $2,615.
- A surge in volume aligned with a brief dip to $2,609, demonstrating buyer resilience.
- The bullish trend continues as the market posts higher lows, supporting further upward momentum.
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