Ethereum trades near $1,918 after reclaiming $1,900, supported by $92.15 million in daily spot ETF inflows and a softer US jobs report. Technical indicators point to $1,950 and $2,000 as the next upside targets, while some analysts already look toward $3,000.
Ethereum traded at $1,918.26 on Friday, up 0.74% on the day, after reclaiming $1,900 and pushing above three closely watched moving averages. The token hit an intraday high of $1,918.88 after opening near $1,904, extending a recovery that has kept its weekly gain above 4%.
ETF inflows and jobs data drive the move
Renewed demand for spot Ethereum ETFs gave the rally a catalyst. US-listed funds pulled in about $92.15 million in net inflows on Aug. 6, equal to roughly 48,327 ETH at the reported market price, following $60.86 million on Aug. 5. Cumulative net inflows into the products have now moved above $11.4 billion.
A softer labor report added to the backdrop. Private employers added 44,000 jobs in July, below forecasts of about 70,000 and down from a revised 95,000 in June, according to ADP. Annual pay still rose 4.4%, however, leaving uncertainty around the Federal Reserve's next rate decision.
Technical structure favors buyers, for now
ETH now trades above its 20-day moving average at $1,895.45 and its 100-day average at $1,911.42, though it remains below its 200-day average near $2,061.80. The 4-hour RSI stood at 61.74, above its signal average, favoring buyers without reaching overbought territory.
A liquidation heatmap shows leveraged positions clustered near $1,925, with a larger band between $1,945 and $1,955. A push through $1,925 could therefore trigger forced buying and accelerate a move toward $1,950, with $2,000 as the next target beyond that. Losing $1,900 would expose ETH to downside liquidity pools near $1,890, $1,870 and $1,850.
Analysts split on the path to $3,000
Crypto analyst Kaleo said "Still don't believe we see above $3K again until 2027", though he added he would be glad to be wrong. On-chain analyst Ali Martinez pointed to an MVRV Momentum Golden Cross, noting similar past signals were followed by rallies of 50%, 74%, 113% and 166%, with $3,000 as the next major target if buying momentum holds.
Michaël van de Poppe placed a broader target near $2,400, adding that Ethereum would first need to clear resistance around $2,000. For now, $1,900 separates the bullish and bearish short-term scenarios: a daily close above $1,925 would strengthen the case for $1,950 and $2,000, while a slip below $1,900 would shift attention back toward $1,850.
Sources: crypto.news, Coinpedia Fintech News
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