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Ethereum price today: $2,520
- Ethereum ETFs are on track to record their best week in 2026 after recording four consecutive days of net inflows worth $220.7 million.
- Profit-taking and long-term holders’ distribution have been calm, strengthening the bullish momentum.
- ETH could stretch its rally to $2,750 if it holds above $2,431.
Ethereum (ETH) is up 8% on Friday, extending its rise above $2,500, its highest level since mid-April.
After its recent short squeeze, the top altcoin has seen strong interest from US-based investors.
US spot ETH exchange-traded funds (ETFs) are on track to record their best week in 2026 after the products saw $220.7 million in net inflows on Thursday. That marks four consecutive days of net inflows worth $512.4 million.
Similarly, the Coinbase Premium Index, which tracks the price of ETH on Coinbase Pro versus Binance, has been trending upward over the past few days but is yet to flip positive, indicating improving US sentiment. The metric has largely stayed negative since late April. A positive flip will strengthen the bullish momentum.
The move shows that US investors are following the Treasury’s liquidity signal after the finance department doubled its buyback operation for long-dated bonds.
Profit-taking remains weak as long-term holders show strength
Despite the strong price growth over the past two days, the Network Realized Profits/Loss has remained low, indicating distribution from profitable coins is not yet intense.
This is also evident in the Age Consumed metric, which spikes after old coins are distributed. The metric has remained calm over the past few days amid the rally, implying long-term holders aren’t booking profits at a rapid pace.
On the derivatives side, investors betting on a downside continue to face pressure. ETH liquidations totaled $328 million over the past 24 hours, driven by $265 million in liquidated short positions. In the past three days, Ethereum has recorded $1.69 billion in short liquidations.
Ethereum Price Forecast: ETH clears $2,431 resistance, sets sight on $2,750
On the daily chart, ETH holds a clear bullish bias as price stands well above the 20-, 50-, 100- and 200-day Exponential Moving Averages (EMAs), with the short-term 20-day EMA near $2,009 and the long-term 200-day EMA around $2,130 reinforcing a broadly supportive backdrop.
However, momentum looks stretched. The 14-day Relative Strength Index (RSI) near 87 and the Stochastic Oscillator (Stoch) around 99 both sit deep in overbought territory, suggesting upside risks are increasingly vulnerable to a corrective pullback even within the prevailing uptrend.
On the topside, ETH is trying to hold above the $2,431 resistance before extending the rally toward the $2,750 and $2,868 barriers. A sustained break above these levels would extend the bullish sequence, while failure to do so would raise the odds of mean reversion toward the nearby support band.
On the downside, immediate support appears at a structural cushion at $2,172 and the 200-day EMA. Below these, the 20-day EMA and the horizontal level at $1,961 could attract buyers on deeper dips, ahead of secondary supports clustered around the 100- and 50-day EMAs at $1,943 and $1,924, respectively.
(The technical analysis of this story was written with the help of an AI tool.Know more.)
With a deep passion for web3 technology, he’s collaborated with industry-leading brands like Mara, ITAK, and FXStreet in delivering groundbreaking reports on web3’s transformative potential across diverse sectors.
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Source: www.fxstreet.com