Ether (ETH) is building up bullish momentum and proving it’s on the verge of breaking out from its rangebound environment. Strong technical indicators coupled with a wave of institutional investment are contributing to this momentum. As seen on [cryptocompare.com](https://www.cryptocompare.com/), the cryptocurrency has consolidated between $2,300 and $2,800 over the last month. Despite this, several factors point towards a possible upward trajectory, offering hope to investors as Ether's price remains 48% below its all-time high.

Technical Indicators Suggest Bullish Momentum

Ether still enjoys solid support from the 200-day exponential moving average (EMA) on the 4-hour chart. This important level has repeatedly historically served as a launch pad for subsequent price rallies. In addition, the development of a hidden bullish divergence with the relative strength index (RSI) confirms increasing underlying strength. Those are all positive technical indicators that the more recent period of consolidation could be the buildup before another strong move higher.

Ether futures open interest has jumped 40% in the past 30 days, a sign of growing conviction among traders and investors. As mentioned earlier, a surge in open interest is typically indicative of a forthcoming wave of volatility. It may be a sign that a BIG breakout is right around the corner.

Institutional Investment Fuels Optimism

Spot Ether ETFs have completed four weeks of inflow in a row, indicative of deepening institutional interest in the cryptocurrency. Ether-based investment products led inflows among crypto exchange-traded products (ETPs) last week, attracting $296 million, despite a market slowdown as investors await regulatory clarity from the US Federal Reserve.

Ether ETPs today account for over 10.5% of all crypto ETP AUM. This is the seventh consecutive week of inflows for these products. One significant asset management firm just made the move by purchasing $500 million ETH in the past 10 days. This is a very bullish move, signaling the increasing confidence of big institutional players on Ether’s potential.

Historical Trends and Future Outlook

Looking at historical data of Ether can give us more insight into W-Eth’s possible rally. In 2023, Ether jumped 93% to $4,000 after a golden crossover, and in 2020, it surged 1,820%. These historical performances show Ether’s potential for explosive price growth during bullish market conditions.