Ethereum Reclaims Ground Above $2,530 as Inflows Lead All Digital Assets
Ethereum (ETH) climbed back above $2,530 on Monday, buoyed by strong institutional demand and renewed momentum in technical indicators. The token rose 1.28% in the past 24 hours, trading at $2,538.25, supported by the latest CoinShares data showing $295 million in weekly inflows—the highest among all tracked digital assets as of June 7.
This brings Ethereum’s month-to-date net flows to $296 million and boosts total assets under management (AUM) to $14.09 billion, reinforcing its standing as the leading altcoin in institutional portfolios.
Spot ETF Demand Reinforces Confidence
According to SoSoValue, Ethereum has now seen 15 consecutive days of net inflows into spot ETFs, signaling steady accumulation by institutional players. This inflow streak—alongside growth in DeFi activity and staking participation—has helped ETH recover from last week’s mild weakness and challenge key resistance at $2,540.
Technical Picture:
- Trading Range: ETH moved within a $57.91 range (2.31%), from a low of $2,482.99 to a high of $2,540.10.
- Volume Surge: A sharp breakout at 08:02 UTC pushed the price up 1.33%, supported by a burst of 8,337 ETH in volume.
- Peak Activity: Trading peaked at 253,612 ETH during a swift intraday reversal, highlighting renewed liquidity and market interest.
- Chart Structure: Price action shows signs of a bullish flag, while a golden cross (50-day MA crossing above 200-day MA) strengthens the medium-term outlook.
- Support and Resistance: Key support has formed around $2,483–$2,485, while buyers continue to test resistance near $2,540.
If ETH can decisively break through the $2,540 level, further upside toward $2,580 and $2,600 may come into view. The current consolidation just above $2,520 suggests bulls remain in control, at least in the short term.
