Ethereum rose 3.36% over 24 hours to $2,737.26, outpacing a 2.49% gain in the wider crypto market. U.S. spot Ethereum exchange-traded funds recorded a fifth straight session of net inflows, while ETH remained below the $2,800 level it had recently failed to hold.
U.S. spot Ethereum ETFs drew $66.1 million in net inflows on September 24, according to data from Farside Investors. The funds have recorded inflows in every trading session since September 18, bringing the five-session total to $746.5 million.
The daily pace has slowed since the $270 million recorded on September 21. Investors added $162.2 million on September 22 and $104.5 million on September 23 before the September 24 reading. The five-day run shows continued demand for Ethereum investment products as ETH trades near $2,700.
BlackRock’s iShares Ethereum Trust, known as ETHA, accounted for $26.8 million of the September 24 inflows. Fidelity’s fund added $21.5 million, while Grayscale’s Ethereum Mini Trust took in $17.8 million. Farside’s figures place ETHA’s cumulative net inflows above $13.2 billion.
The wider crypto market gained 2.49% during the same 24-hour period. Ethereum’s 3.36% rise put it ahead of that market measure by 0.87 percentage points. Several other altcoins also posted gains during the session.
The CoinMarketCap Altcoin Season Index rose 9.62% to 57 in the market snapshot supplied for this report. Chainlink gained 14.55%, while Quant rose 36.11%. Those gains accompanied Ethereum’s advance as traders increased their exposure to altcoins.
Ethereum fell to around $2,680 after briefly rising above $2,800 earlier this week. It has since recovered to $2,730 over the past 24 hours.
ETH briefly traded near $2,804 earlier in the week but fell back below $2,800. Traders are now watching the area from $2,775 to $2,825. A sustained move above that range would put higher price levels back in focus.
A technical analyst outlook identifies $2,920 as the next level to watch after a daily close above $2,800. It then places $3,177 as a further upside level. Meanwhile, ETF flow figures will show whether the five-session run of inflows continues.
On the downside, the outlook places initial support near $2,626, within a wider support area extending to $2,440. A move below $2,626 would shift attention toward the lower end of that range.
Traders Union analyst Viktoras Karapetjanc tied his positive outlook to ETF demand, while qualifying it with the condition “if key support levels hold.” ETH’s next price test remains $2,800, following its earlier retreat from that level.
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