Ethereum Shows Signs of Recovery with Key Resistance Flipped
- Ethereum’s price has moved above the $2,300 mark, breaking past the Ethereum resistance zone.
- The cryptocurrency surpassed its 100-day simple moving average for the first time since November, indicating a potential shift in market control to buyers.
- Institutional demand is rising, with US Spot Ether ETFs seeing inflows of $275.83 million in the latest week.
- Derivatives markets show a positive net taker volume of +$102 million, marking a reversal from previous seller dominance.
Recent developments suggest that Ethereum may be entering a phase of recovery as it breaks through key technical levels and sees renewed institutional interest. The movement above the $2,300 level and increased ETF inflows highlight growing confidence among investors.
The shift in derivatives order flow to a positive net taker volume further supports this trend, indicating that buyers are beginning to absorb selling pressure effectively. (Source)
