Ethereum

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<ul> 
 <li>Ethereum ETFs attract substantial inflows but face resistance near $2,799.</li> 
 <li>ETH may consolidate around $2,000-$2,100 before a potential upward move.</li> 
</ul> 
In a turn of events, Ethereum ETFs have seen massive inflows amid Bitcoin outflows, as detailed in a previous CNF <a href="https://www.crypto-news-flash.com/institutions-shift-focus-ethereum-etfs-see-massive-inflows-amid-bitcoin-outflows/">post</a>. Ethereum (ETH) is down 1.7% on Wednesday, despite positive signs from lower Consumer Price Index (CPI) inflation data and rising ETF inflows. 
The US CPI fell to 2.9% YoY, below expectations, increasing the likelihood of a Federal Reserve rate cut. This environment could favor risk assets like cryptocurrencies, potentially benefiting ETH. As of now, ETH is trading at $2,625.23, having decreased by 4.14% in the past day but surged by 7.81% in the past week. 

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 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-coin="ethereum" data-symbol="ETH" data-currency="USD" data-rate="1.000268" data-type="chart" data-view="day" data-theme="light" data-smooth="true" data-areacolor="" data-bgcolor=""></div>
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Additionally, according to a recent CNF <a href="https://www.crypto-news-flash.com/ethereum-etfs-could-surge-to-10-billion-in-aum-by-years-end-sygnum-bank-projects/">update</a>, a financial analyst predicted that Ethereum ETFs are on track to amass a staggering $10 billion in assets under management (AUM) by the end of the year. 
Ethereum ETFs saw <a href="https://www.crypto-news-flash.com/ethereum-etfs-flip-to-positive-net-inflows-for-the-first-time-since-launch/">notable inflows</a> recently, with $24.3 million on Tuesday, including $49.1 million into BlackRock ETHA. 
However, technical analysis reveals ETH struggling around a key trendline and facing rejection near the $2,799 resistance level. Historical patterns suggest ETH may consolidate before a potential rally, possibly revisiting the $2,000 to $2,100 range before making a significant move upward.

Ethereum ETFs Attract Inflows as Key Trendline Holds, $46M ETH Moved by Jump Trading

Crypto News Flash

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