Record Spot ETH ETF Inflows Dey Push Ethereum Near ATH with $8,500 Target
Ethereum price rise 10% for one day and 8% within 24 hours, e close like 2% from im November 2021 record high of $4,867. Institutional demand push record $1.02 billion enter into spot ETH ETFs on August 11, BlackRock iShares Ethereum Trust lead am. Total ETF assets don pass $10 billion with weekly inflows over $2.2 billion and over $2.3 billion added in six days. On-chain metrics dey show daily transactions near 1.9 million and DeFi TVL around $95 billion. Technical analysis show strong resistance at $4,700–4,750; if e break sustainable e fit start price discovery phase. Analysts dey forecast targets from $7,000 to $13,000, Yashasedu dey project $8,500 before year end. Traders suppose dey monitor spot ETF flows and key resistance levels for trading chances.
Bullish
Record spot ETF inflows dey signal strong institutional demand wey dey fuel Ethereum short-term price momentum. If e sustain break above $4,700–4,750 resistance zone, e fit trigger accelerated gains plus new price discovery phase. High on-chain activity and increasing staking adoption also support bullish view. Short-term, volatility around ETF flow announcements fit give trading opportunities. Long-term, continuous inflows and strong network demand dey underpin Ethereum’s potential to reach and pass $8,500.