Ethereum (ETH) has gone up by nearly 4% in the past 24 hours and currently stands at $4,100 after recovering from last Friday’s flash crash.
Net inflows to exchange-traded funds (ETFs) turned positive once again yesterday, according to data from Farside Investors.
After three consecutive days of outflows, these vehicles brought in $236 million on Monday, underscoring the potentially temporary nature of last week’s decline.
Prior to that isolated event, ETF net inflows had been positive for 8 days in a row, with the total amount poured into these funds ascending to nearly $2 billion.
Trading volumes remain quite high for Ethereum, currently accounting for 12% of the token’s circulating market cap at $60 billion.
Meanwhile, on-chain data shows that interest in the Ethereum ecosystem remains quite high. Total stablecoin reserves on this blockchain recently reached a new record, surpassing the $160 billion mark.
The launch of the Pectra upgrade could have been partially responsible for the positive performance of ETH this year, primarily as it lowered gas fees and allowed users to send ERC-20 tokens while paying for gas fees with stablecoins like USDT.
This is highly convenient and improves the network’s user experience compared to its competitors like Solana (SOL) and Tron (TRX).
Ethereum Price Prediction: 200-day EMA Acted as Strong Support During the Crash
The daily chart clearly shows that ETH found support at its 200-day exponential moving average (EMA) during the flash crash. This is a key support to watch down the road if another strong pullback occurs.
The fact that the price closed above $4,000 just two days after indicates that buying pressure below this level is quite strong. Hence, the odds favor a bullish Ethereum price prediction with a first target set at $4,700 in the near term.
That said, the Relative Strength Index (RSI) currently stands below the 14-day moving average, meaning that negative momentum is gaining traction. We would need to see a strong push in the next few days that confirms that market participants have shrugged off last week’s scare.
Market sentiment and traders’ interest in the market (as reflected by futures’ open interest) have not yet picked up to make that assertion.
Hence, the next few days will be critical to determine if ETH can resume its uptrend. If it does, the $5,000 could be the next target, as bullish momentum would prove to be strong enough to withstand even the sharpest corrections.
As cryptos recover, the best crypto presales will once again jump to the spotlight. Bitcoin Hyper ($HYPER) stands out from the crowd, as this project has raised nearly $23 million already to launch a Solana-powered Bitcoin layer 2 that could kick off a new era for the top blockchain.
Bitcoin Hyper ($HYPER) Aims to Supercharge Bitcoin with Layer-2 Innovation
Bitcoin Hyper ($HYPER) is redefining what’s possible on the Bitcoin network by introducing the first true Layer-2 built for speed, scalability, and smart contract integration.
While Bitcoin remains the gold standard for value, it’s often slowed down by high fees and limited functionalities. Bitcoin Hyper bridges that gap — offering lightning-fast transactions, lower costs, and a new foundation for decentralized apps to thrive on Bitcoin itself.
Developers will finally be able to build DeFi, Web3, and even AI-powered applications without leaving the Bitcoin ecosystem.
The Hyper Bridge is the safe passage between the Bitcoin OG network and this Solana-powered. Designed to safely store BTC tokens in their native chain, the bridge will automatically mint the corresponding amount of BTC received on the Hyper L2 so investors can access this new ecosystem.
Over 1 billion tokens have already been locked for staking, highlighting growing interest from both retail and institutional players. As top wallets and exchanges embrace the solution, the demand for its native token, $HYPER, could skyrocket.
