Ethereum (ETH) Surges Past $2,100 as Spot ETFs Record $120M Daily Inflows

Key Highlights

• The weekly MACD indicator for Ethereum shows an upward curl, historically signaling potential price recoveries
• ETH successfully recaptured the $2,100 threshold following solid support at the $2,000 mark
• Daily trading volume surged to $16 billion, doubling within 24 hours amid a 5%+ rally
• Spot Ethereum ETFs attracted $120 million in net capital on April 6, with BlackRock’s ETHA at the forefront
• Breaking through $2,150 resistance could trigger a potential rally toward $2,800

Ethereum has surged over 5% in the last day, reclaiming the psychologically significant $2,100 threshold that market participants have closely monitored. The rally was sparked after President Donald Trump issued warnings to Iran regarding the Strait of Hormuz access, temporarily relieving oil market tensions and boosting appetite for riskier assets.

Daily trading activity exploded during this price movement, with volume jumping to $16 billion—a figure that accounts for roughly 6% of ETH’s total circulating supply value.

The broader cryptocurrency market witnessed approximately $280 million in short position liquidations throughout this upward move. Bitcoin climbed 4%, while Solana posted a 3.5% gain and XRP advanced 3% during the same timeframe.

The $2,000 price point proved its strength as a support zone before the rebound, establishing what market observers identify as a higher low pattern on daily timeframes. ETH now faces resistance testing near $2,150, a barrier that has rejected previous breakout attempts.

Market analyst Ted presented a chart illustrating ETH’s rebound from a confluence of support levels while recapturing $2,100. His analysis identifies resistance barriers at $2,200, the mid-$2,400 region, and $2,624 beyond that point.

The Relative Strength Index has climbed above 55, crossing its 14-day moving average. Should the RSI break above 60, it could indicate sustained upward momentum based on technical analysis.

MACD on Weekly Timeframe Hints at Momentum Change

Technical analyst Jake Wujastyk highlighted a weekly chart depicting Ethereum’s MACD indicator starting to curl upward from significantly negative territory. The blue MACD line is advancing back toward the orange signal line following an extended downtrend.

Historical instances of comparable formations on this timeframe have coincided with local price floors before subsequent rallies in following weeks. While not yet a confirmed bullish breakout, the pattern indicates potential weakening of selling pressure.

Crypto analyst Ali Charts identified $1,800 as a crucial support level, suggesting current market structure resembles an ascending triangle formation. According to his analysis, if $1,800 maintains as the triangle’s foundation, a substantial move toward $4,900 might materialize.

Institutional Capital Flows Through ETF Vehicles

Ethereum spot exchange-traded funds captured $120 million in aggregate net inflows on April 6. BlackRock’s ETHA dominated with $60.8 million in single-session inflows, pushing its cumulative historical net inflow to $11.62 billion.

Fidelity’s FETH secured second position with $40.1 million in fresh capital. Combined net assets across all Ethereum spot ETFs currently total $12.28 billion, equivalent to 4.74% of Ethereum’s overall market capitalization.

Market sentiment indicators shifted as the Fear and Greed Index advanced from 23 to 38, transitioning from Fear territory toward Almost Neutral.

The CME FedWatch tool indicates market expectations no longer anticipate a rate reduction in 2026, a factor that has generally pressured risk-oriented assets. Ethereum ETFs concluded the previous week with $42 million in net outflows before the April 6 reversal to positive flows.

The post Ethereum (ETH) Surges Past $2,100 as Spot ETFs Record $120M Daily Inflows appeared first on Blockonomi.

Source: https://blockonomi.com/ethereum-eth-surges-past-2100-as-spot-etfs-record-120m-daily-inflows/