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Ethereum ETF Inflows Boost Price Above $4,700
Ethereum (ETH) has extended its bullish momentum this week, climbing to $4,716 at the time of writing — a 4% daily increase, according to market data from crypto.news. The surge aligns with the broader “Uptober” rally, where major cryptocurrencies including Bitcoin have retested new highs, pulling several altcoins into fresh bullish territory.
With an 11% gain over the past seven days, Ethereum’s recovery appears to be gaining serious traction.
Institutional Flows Fuel ETH’s Price Rally
A key driver behind Ethereum’s recent price surge is the rising institutional demand via Ethereum exchange-traded funds (ETFs) listed in the United States. These investment vehicles have recorded consistent inflows across multiple sessions. During the latest trading day, ETH-related ETFs attracted approximately $177 million in capital, pushing the six-day total to around $1.47 billion.
This level of interest underscores growing confidence in Ethereum’s long-term value and role within the broader crypto market. Ethereum’s market capitalization now hovers around $570 billion, while daily trading volumes are estimated at $40 billion, reflecting strong investor participation.
As one analyst noted:
“ETF inflows have historically preceded breakout moves in crypto assets, and ETH is now showing signs of repeating this pattern.”
Technical Outlook: Bulls Regain Short-Term Control
Ethereum’s price action also reflects a notable shift in technical momentum. On the daily chart, ETH has successfully broken out of a short-term descending channel, which had capped its price since late summer. The breakout now signals the formation of a new ascending structure, mirroring patterns observed during its July rally.
ETH currently trades just above the 30-day simple moving average (SMA), which sits around $4,330. This level, previously a resistance zone, has now flipped into a support level—an encouraging sign for bullish continuation. As long as ETH maintains its footing above this zone, the short-term uptrend remains intact.
Additionally, the Relative Strength Index (RSI) has bounced back to the 44–50 range, indicating that selling pressure is fading while maintaining room for further upside. While not yet overbought, RSI momentum is steadily climbing, which could pave the way for additional gains.
Key Levels to Watch: $4,700 Resistance and $5,000 Target
Ethereum’s immediate resistance lies at $4,700, a level the asset reclaimed earlier this week. A decisive daily close above this threshold would mark a significant technical milestone, potentially triggering the next leg up in ETH’s recovery.
Should this breakout occur, the next major upside target is $5,000, a level Ethereum nearly touched during its July rally when it peaked just below $4,900. The $5K zone also aligns with the upper boundary of the newly forming ascending channel, making it a psychologically and technically important threshold.
On the downside, the $4,100–$4,200 range forms a critical support zone. A sustained move above this level would help preserve the bullish structure. However, a failure to hold this support could open the door to a deeper retracement toward the $3,800 area, a key pivot point from earlier in the year.
Market Sentiment and Broader Context
Ethereum’s resurgence comes amid a broader wave of optimism across the crypto market. The “Uptober” narrative—referring to October’s historically bullish performance—has once again lived up to its name, driven by positive macro trends, increased institutional participation, and renewed retail interest.
This time around, Ethereum is benefiting not just from general market momentum, but also from infrastructure developments such as ETF adoption, Layer 2 scaling advancements, and continued growth in decentralized finance (DeFi) and NFTs.
However, while technicals and inflow data suggest growing strength, volatility remains a key risk factor. Traders and investors are closely watching whether ETH can hold recent gains and convert momentum into a sustainable breakout.
Will Ethereum Break $5K This Time?
Ethereum’s current technical and fundamental positioning suggests that a retest of the $5,000 level is once again on the table. After months of sideways and corrective action, the asset now appears to be regaining its footing, backed by institutional capital, improving charts, and market-wide bullish sentiment.
The path ahead will likely depend on Ethereum’s ability to maintain short-term support and decisively close above $4,700. If bulls succeed in clearing this resistance, the $5K milestone could soon be within reach.
