ETH has consolidated throughout the week, trading between $2,400 and $2,630 for the most part. Slow move up Regardless of this up and down action, Ethereum ultimately finished the week up around 4%. Recent data reveals continued inflows into Ethereum ETFs, suggesting sustained investor interest even as the cryptocurrency's price action remains subdued.

Ethereum’s price action has been surprisingly calm the past two days. A technical analysis of the 4-hour candlestick chart shows the formation of a wedge pattern indicating a breakout may be forthcoming. At the moment, Ethereum is slightly in the red, down just a little over 1% in the past 24 hours. It just hovers above the $2,400 support level, while it continues to face resistance under the $2,600 range.

ETF Flows Show Positive Sentiment

Though Ethereum has seen the price consolidation from the market-wide correction, Ethereum ETFs still have shown strong upward momentum. In only the past week, active Ethereum ETFs gained a total net inflow of 76,892 ETH. That’s nearly $195 million dollars! Friday’s inflows were mostly thanks to the iShares (BlackRock) Ethereum Trust, which added 32,987 ETH ($83.46 million).

Spot Ethereum ETFs recorded inflows on four of the past five trading days. This significant trend reflects the deep confidence investors continue to have in this market. Wednesday, July 2, marked the lone day with net outflows. On that day, the ETFs had a net negative flow of $1.82 million. On the contrary, on July 4, US-based Ethereum ETFs experienced a large multi-million dollar net inflow of 36,439 ETH (about $92.19 million).

Individual Fund Performance

Minor outflows were observed for the Grayscale Ethereum Trust (ETHE) at 77 ETH. By contrast, Grayscale’s Ethereum Mini Trust net-acquired 3,105 ETH that same day. The fund now sits at an impressive 1.81 million ETH. This new addition is worth more than $4.57 billion and shows the growing attraction from institutions towards Ethereum.

This divergence in fund performance is an early glimpse at the different strategies and investor preferences that the developing Ethereum ETF market will embrace. Some investors are retreating from older trusts like ETHE. At the same time, others are taking advantage of the moment to increase their visibility with next-generation and possibly more affordable alternatives such as the Ethereum Mini Trust.

Potential Price Movements

Analysts are watching ETH’s price action closely for signs of a breakout. A break above $2,600 and $2,800 could trigger a rally towards $4,000, while a drop below $2,200 might lead to a pullback towards the $1,750 level. These three important key levels are critical for traders and investors to monitor as they could determine Ethereum’s short-term direction.

ETH ETFs aren’t just doing well, they’re killing it on inflows. The market is making a wedge pattern on the charts, showing that a big price movement is coming soon. We don’t know whether this movement is going to resolve with an upward breakout or a downward correction. It’s a market that’s primed for volatility.