Ethereum’s recent price rallies appear to be losing momentum, as Spot Ethereum Exchange-Traded Funds has recorded a strong influx.
According to SoSovalue data, Spot Ethereum ETFS registered a net inflow of $533.87 million on July 22nd. Currently, cumulative inflows totaling $8.32 billion, so institutional demand for Ethereum (ETH) ETFs is clearly increasing.
The bill was led by Eta from BlackRock, which brought in $42,622 million and currently oversees more than $10 billion in assets. The Grayscale fund received $72.64 million in new capital, while Fidelity’s Feth added $35.01 million.
All Spot Ethereum ETFs had a total trading volume of $1.97 billion. Meanwhile, the Spot Bitcoin (BTC) ETF reported a net outflow of $67.93 million, indicating an increase in Ethereum’s institutional appeal.
This interest is driven by Ethereum’s dominant role in decentralized finance and its growing tokenization footprint. Institutions such as Franklin Templeton and BlackRock are currently using Ethereum to tokenize real-world assets.
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As of July 23, Ethereum’s total tokenized assets amounted to over $7 billion, with the network accounting for 54% of the tokenized market share. The asset is also becoming more popular in corporate financial planning. Ethereum is currently being added to corporate reserves such as Bitmine Immersion Technologies and Sharplink games.
Still, despite all the powerful basics, the price action is cooled down. Ethereum rose 17% in the past week and 64% in the last month, but is now stagnating at around $3,700. It reached a weekly high of nearly $3,845, but a decline in trading volume suggests that momentum could be slower.
On the last day, spot trading volume fell by 15%. This frequently indicates a short-term decline in buyer interest. Coinglass data shows that the amount of derivatives also fell 13%, while open interest fell 4%, reflecting a decrease in speculative positioning among traders.
On the technical side, Ethereum is trading far more than the most important moving average, suggesting that the long-term trend is still bullish. However, short-term metrics suggest that Ethereum could be over-acquired.
Ethereum price analysis. Credit: crypto.news
At 81.6, the relative strength index is significantly higher than the ones that were forced to buy. The commodity channel index and any probabilistic indicators show a “selling” signal, indicating that Ethereum gatherings may be suspending or undergoing an amendment. Despite moving more slowly, the divergence of moving average convergence is still in bullish territory.
If Ethereum can break past $3,850, it could be aiming for $4,000 next. But before you find stronger support, if you fall below $3,250 or $3,500, it could be $3,100.
read more: Bitcoin’s advantage slides as Ethereum market share jumps to 11.6%
