Ethereum gained 30% over the past week. Spot Ether ETFs pulled in $697 million in net inflows. The token needs a close above $2,500 to confirm its next leg higher, but a bearish MACD crossover signals fading short-term momentum.
Ether ETFs draw $697 million as Bitcoin funds lead
Ether climbed to $2,453.91, up 4% over the latest four-hour period. Spot Ether ETFs recorded $697 million in net inflows for the week of August 17 to August 21. Spot Bitcoin funds led the way, taking in $1.918 billion over the same period. Spot XRP ETFs added $39.78 million and spot Solana ETFs brought in $28.34 million, while spot HYPE ETFs lagged with $3.89 million.
The majority of capital flowing into the ETF categories was directed into Bitcoin and Ethereum funds.
Bitcoin's rally lifts the wider market
Bitcoin held near $77,000, after posting a record weekly dollar gain of $14,264 and closing 20% higher. The advance helped push the total crypto market capitalization up 0.6% to $2.61 trillion over the last 24 hours. XRP's weekly gain reached 50%, trading around $1.48.
Sentiment shifted with the rally: the Fear and Greed Index touched 79, its highest level since December 2024, signaling extreme greed across the market. That reading points to crypto-specific demand rather than a move tied to traditional markets, since the two show only a weak correlation. But with major tokens now overbought, the rally may pause before extending further.
Ethereum's path to $2,700 hinges on holding $2,500
Ether's RSI sits at 66.74, pointing to a medium-to-strong trend, while a bearish MACD crossover signals momentum is fading for now. A close above $2,500 would confirm the next stage of the recovery, opening the way to $2,550, then $2,600, and $2,700.
Failure to clear $2,500 sends Ether back toward first support at $2,350, with stronger selling pressure testing the rally's strength near $2,300. A break below that level would put $2,200 in view next.
Source: CoinGape
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