ETHUSD pared some of its gains after breaking the significant resistance of $2770. It hit an intraday high of $2789 and is currently trading around $2729.
Strong inflows for Ethereum (ETH) this week were mostly caused by institutional demand for spot Ethereum ETFs drew over $287 million between May 19 and May 27, 2025. The inflows, which included a noteworthy $84.9 million on May 28 alone spearheaded by ETHA and FETH funds, have driven Ethereum's price surge and bullish momentum in late May, indicating increasing institutional confidence and helping to raise price and trading volume.
Overall trend remains bullish as long as support $2300 remains intact. Watch out for $2770, any daily close above targets $3000/$3400/$3600/$3800/$4000. A robust bullish trend will only materialize above $4100.
Immediate support is around $2650. Any violation below will drag the price down to $2450/$2300/$2000/$1750/$1675/$1620/$1500/$1200/$1000. A breach below $1000 could see Ethereum plummet to $800/$500.
It is good to buy on dips around $2550-55 with SL around $2300 for a TP of $3000/$4000.
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