Key Ethereum Price Levels to Watch as ETF Inflows Hit $67M

Ethereum price has been showing strength over the past week, leading the altcoin market rally with 10% gains. Investors are waiting for next big move in ETH while inflows into spot Ether ETFs are once again gaining momentum.

Corporate players like BitMine continue to accumulate ETH. At the same time, Tom Lee has turned ultra bullish on the altcoin.

Ethereum Price Gearing for Next Big Move?

Popular analyst Crypto Patel stated that Ethereum sits at a critical juncture. Upcoming price levels will determine its next major move.

The analyst noted that Ethereum price declined sharply from $4,800 to around $1,765 before forming a potential bottom. Since then, the asset has been gradually recovering within a rising channel.

Crypto Patel highlighted a recent false breakout near $2,385. There, the Ethereum price briefly moved above the channel before reversing. This indicated a potential liquidity trap.

He identified an unfilled gap between $2,474 and $2,634 as the next upside target. Similarly, Patel spotted a major resistance zone between $2,900 and $3,050. A confirmed daily close above $3,056 could signal a broader trend reversal.

On the downside, the analyst pointed to $1,800 as a key support level. A breakdown below $1,765 could indicate renewed weakness.

Crypto Patel added that while Ethereum is showing signs of recovery. However, confirmation of strength will depend on a sustained move above key resistance levels.

Tom Lee Predicts Ethereum Price Surge to $60,000

BitMine Technologies (NASDAQ: BMNR) chairman Tom Lee has been a major institutional buyer of Ethereum over the past few months.

Speaking at Paris Blockchain Week, Lee said that the Ethereum price could climb to $60,000. He cited significant long-term upside potential. This hints at a massive 25x upside potential from the current levels.

He added that if such a move happens, the current cycle could create one of the largest wealth opportunities. It could reshape the crypto market for investors. Lee’s comments reflect continued bullish sentiment among some analysts.

Ethereum ETFs Record $67.86 Million Inflows

U.S. spot Ethereum ETFs recorded total net inflows of $67.86 million on April 15. This reflected steady institutional demand. BlackRock’s ETHA led inflows with $31.51 million. Grayscale’s mini Ethereum trust followed it. It added $24.79 million.

ETHA recorded net inflows of 13,289 ETH. This was equivalent to $31.51 million. The fund also saw strong trading activity. Daily trading volume reached $500 million.

BlackRock’s staked Ethereum ETF, ETHB, also attracted $9.76 million in inflows. The fund now holds 234,589 ETH. Out of this, 174,059 ETH is staked. It also keeps 60,530 ETH as liquid Ether. This shows a balanced allocation strategy.