- ETH consolidates below $4,100 as analysts eye breakout to trigger next major upward rally.
- Institutions have acquired 2.83M ETH since May, outpacing new issuance 32 to 1.
- ETF inflows hit a 12-day streak, signaling strong investor interest amid ongoing price correction.
Ethereum is currently undergoing a correction after a 70% rally earlier this year. At the time of writing, ETH trades at $3,644.13. Analysts expect the market to consolidate in the near term, with the $4,100 resistance level acting as a key trigger for the next major rally.
Price Maintains Bullish Structure During Correction Phase
Ethereum “is yet to enter the banana zone” as it continues to move sideways following its recent gains, according to analysis prepared by TedPillows. ETH’s current range is between $3,530 and $3,677, while short-term volatility remains contained within this band.
Ethereum continues to trade above the midline of a long-term rising parallel channel, which has guided its upward trend since 2018. The support level near $2,800 continues to provide a base for bullish structure. Technical indicators such as RSI are in neutral territory, showing consolidation after overbought conditions earlier this month.
Data from CoinGecko confirms Ethereum’s circulating and total supply stands at 120.71 million ETH, with no maximum cap. The market cap is approximately $438.71 billion, while the daily trading volume is around $45.66 billion, indicating steady market activity.
Institutional Demand and ETF Flows Signal Strength
According to Bitwise CIO Matt Hougan, institutional demand continues to grow. “There is more demand for ETH than supply,” Hougan said, referring to over 2.83 million ETH acquired by institutions since mid-May.
That figure is 32 times the ETH issued in the same period. ETF inflows are also rising. SoSoValue reported $296.5 million in net ETH ETF inflows on Tuesday, marking the 12th straight day of positive flows. Ethereum’s ETF market now exceeds $18.4 billion.
Additionally, treasury holdings by companies such as BitMine and Bit Digital have increased, showing sustained institutional interest. As per Crypto Patel, ETH’s price was “rejected again,” but he added that if current support holds, “a big move might be next.”
