Ethereum prices were pulled back on Saturday, September 20th as recent bullish momentum halted. Still, the bullish pennant patterns that form and growing ETF influx point to rebound at $5,000.
summary
- Despite a temporary slowdown in price movement, Ethereum’s market position continues to be strengthened. With cumulative ETF inflows now exceeding $13.9 billion, institutional investors see ETH as a highly liquid alternative asset.
- The surge in Ethereum Stablecoin Supply shows the dominant role of Ethereum in distributed finance (DEFI) and a potential bullish breakout from each other on increasing locked total value (TVL) of $27 billion.
- Ethereum has formed a bullish pennant pattern, setting the stage for a price target of $4,945, and as much as $5,000 if momentum continues.
ETH ETFS inflow continues
Ethereum (Eth) Price Rally took a breather as a sentiment in the crypto market after the Federal Reserve decided on interest rates.
Still, the data shows that Ethereum ETF continues to add assets this week. According to Sosovalue, all Spot Ether ETFs added $556 million in assets per week.
That was the second consecutive week after these funds added $637 million in previous funds. These flows have brought cumulative inflows to more than $13.9 billion.
BlackRock’s Etha ETF has a cumulative inflow of over $13.4 billion and currently has $17 billion in assets. Grayscale’s Ethe has $4.75 billion, while Fidelity’s Feth has $3.59 billion.
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Ethereum ETF has grown rapidly over the past few months. One possible reason is that American institutional investors view it as a highly liquid alternative.
And the influx jumped after Donald Trump signed the act of genius, We have regulated the Stablecoin market. Ethereum Stablecoin Supply has since surpassed $164 billion. Adjusted transaction volume has grown 71% to $91 billion over the past 30 days.
Ethereum’s role in the decentralized financial industry is also growing, with a total value of $27 billion and bridging assets reaching $513 billion.
Ethereum Price Bullish Pennant Form
ETH Price Chart | Source: crypto.news
Daily time frames show that ETH price gatherings have stalled over the past few weeks. It exceeded the 50- and 100-day index moving averages, the highest points in December last year, with key support remaining of $4,106.
The coin slowly formed a bullish pennant pattern consisting of vertical lines and symmetrical triangles. It is also located above a one-sided cloud indicator.
So Ethereum prices are likely to be a strong bullish breakout, with the initial target of $4,945, the highest ever. Moves above that price refer to more profits and potentially psychological points of $5,000.
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