.png){kind=logo}
Ethereum traded near $2,437 on Friday after a fresh overnight move lifted the token above $2,400. The price stayed firm above key short-term support levels, while traders continued to watch the $2,520 zone as the next major barrier.
Recent market activity has been shaped by new institutional access, steady ETF inflows, tighter exchange supply, and rising derivatives exposure.
Charles Schwab has started direct spot Ethereum trading for US clients through its brokerage platform. The service gives investors access to ETH alongside stocks and other traditional assets, with custody handled through Paxos. The rollout adds another regulated entry point for market participants seeking direct Ethereum exposure.
At the same time, US spot Ethereum ETFs have continued to record inflows. SoSoValue data showed the 10 US spot Ethereum ETFs brought in $18 million in net inflows on April 16. BlackRock’s ETHA led the group. The products have now posted six straight trading days of net inflows, with close to $300 million added during the stretch.
The pace remains below the stronger inflow levels seen earlier this year. However, the latest run shows institutional demand remains active. Ethereum treasury firm Bimine has also continued to increase its holdings. The company now holds about 4% of Ethereum’s circulating supply and remains close to its stated 5% target.
Ethereum’s short-term structure remains constructive. The asset is trading above the 20-day simple moving average at $2,169 and the 50-day simple moving average at $2,113. The setup supports the current upward bias. However, ETH is still trading below the 200-day simple moving average near $2,885, which leaves the broader ceiling in place.
Price action has remained within a defined band, with support near $2,340 and resistance near $2,520. Friday’s push above $2,400 shows buyers are still active. However, the market has not yet cleared the upper end of the range. Until a breakout appears, traders are likely to keep watching for another period of sideways movement.
Momentum indicators show a mixed backdrop. MACD continues to flash a buy signal, and Ethereum price remains above Ichimoku Kijun support near $2,177. Meanwhile, RSI near 61, along with overbought readings on Stoch RSI and CCI, suggests the latest rise has stretched conditions in the short term.
Derivatives data show market participation remains elevated. Ethereum open interest has climbed 26% to a record $32.67 billion. The increase points to stronger positioning across futures and options markets as traders prepare for the next price swing.
On-chain figures also show a tighter supply backdrop. CryptoQuant data places Ethereum exchange reserves on Binance falling from approximately 7.7 million ETH at the peak to 3.31 million. Lower balances on exchanges usually mean less supply is available for immediate selling. As demand improves, reduced liquid supply can support price stability.
Exchange withdrawal transactions have also remained low, near 57,000. Low transfer activity suggests much of the ETH that has already left exchanges is not returning quickly. Some of it may be staying in cold storage or locked in staking.
For now, Ethereum remains above short-term support and below a clear resistance line. A move through $2,520 would open the door to a higher target near $2,749. If the price slips back under $2,340, sellers may regain control in the near term.
Also Read: Why Ethereum (ETH) Crashes: Key Reasons and Historical Trends
