Quick overview

Live ETH/USD Chart

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Ethereum [ETH] is currently experiencing a new wave of momentum.  The innovation has given risky assets, including cryptocurrency, hope. Both institutional giants and individual investors showed confidence in ETH, as evidenced by the more than $1.4 billion in net inflows last week. The super altcoin is within the $2,500 mark amid high buying pressure.

Usage keeps rising as volatility trembles with broader sentiment, indicating that institutional and retail participants see current levels as a strategic entry. The combination of this inflow momentum and macro optimism makes it more likely that Ethereum will trigger a bullish run

Artemis data shows that Ethereum saw a startling $1.4 billion net inflows over the past week, far exceeding any other chain despite market volatility. Ethereum’s price action is coiling for a possible short squeeze as usage metrics are rising and shorts are aggressively stacking up since key liquidation levels are above $2,900.

Ironically, traders’ apprehension might signal a local bottom and then a bullish breakout. Based on the Fear and Greed Index, market sentiment has somewhat improved. At the time of writing, this sentiment indicator was at 45, indicating a more neutral position, up from a low of 37, which suggested investors were acting fearfully.

Today’s surge, though, appears to have re-energized traders, perhaps because they perceive a possible continuation of the upward trend now that the market has a catalyst available to carry out a short squeeze.

The daily charts indicate that ETH has successfully pulled a bear trap and climbed above its consolidation pattern, but it still needs to break the $2,500 barrier to reach $3K.