Outside Source
Author
Simon Chandler
Author
Simon Chandler
The Ethereum price has risen by 2.5% today, reaching $2,610 as the cryptocurrency market as a whole continues to decline in the face of continued tariff uncertainty.
ETH remains up by 6.5% in the past week and by 7% in the past fortnight, although it’s one of the few major tokens to be sitting on a decline in the last 12 months, at 15%.
Its recent performance, however, suggests that its fortunes may be turning for the better, with data showing that spot-based ETH ETFs have enjoyed positive net inflows for the past eight weeks.
This signals rising demand for the token, and when combined with its enviable fundamentals, such demand points to a very positive longer term Ethereum price prediction.
Ethereum Price Prediction: Institutions Haven’t Stopped Buying for 8 Weeks – Will Wall Street Trigger the Next Bull Run?
Posting on X, glassnode revealed that ETF inflows topped 61,000 ETH (c. $159 million) this week.
In fact, save from the one week of outflows in early May, Ethereum ETFs have enjoyed ten weeks of inflows since mid-April.
And if we look at recent CoinShares Digital Asset Fund Flows reports, we see that Ethereum has consistently outperformed every other altcoin.
In the seven days to July 7, ETH funds attracted $226.4 million in inflows, dwarfing its nearest rival Solana by 10x.
The difference in the week to June 30 was even greater, with Ethereum funds having inflows of $429 million, compared to $5.3 million for SOL.
This suggests that, after Bitcoin, Ethereum is a favorite among institutions and big traders, which makes sense given Ethereum’s size as a layer-one platform.
It continues to dominate in terms of TVL, with its $66.3 billion accounting for 56.5% of the entire sector (and that’s not including Ethereum-based L2s).
It’s therefore entirely arguable that ETH remains in a very oversold position, with its chart today showing signs that we may be at the beginning of a big climb upwards.
Its price looks like it’s about to break out of the pennant that has been forming since the highs of December, while its indicators are also showing more momentum.
Its RSI (yellow) has risen from 30 a couple of weeks ago to almost 60 today, and its trajectory suggests further increases very soon.
Meanwhile, its moving average convergence divergence (orange, blue) is about to turn positive, having spent most of this year in a negative position.
Assuming that global trade picks up later in the summer, we could therefore see the Ethereum price return to former highs.
It may reach $3,000 by the end of August, before hitting $4,000 by Q4.
The Trading Bot for Traders: Snorter Raises Over $1.4 Million in Heavily Subscribed Presale
If Ethereum is too much of an obvious altcoin for some traders, they may prefer to investigate newer, under-the-radar coins with more market-beating potential.
This year has seen a number of new alts (e.g. SPX6900, Trump Official, Sei) storm into the top 100, often carried on a volatile wave of hype.
It has also seen several presale tokens enjoy big listings, with one of the newest and most interesting such coins being Snorter (SNORT).
Running on Ethereum and Solana, Snorter is a new automated sniping bot that promises to help investors make trades ahead of the market.
It has already raised more than $1.4 million in its ongoing presale, an early sign of its future popularity.
Snorter uses AI to scan the market for emerging new tokens, making trades on behalf of users before new coins blow up.
It also provides such features as copy trading, atomic swaps, limit orders and protection against scams.
This helps to explain why it’s already gaining traction, with its X account now boasting over 13,000 followers.
Its native token SNORT will be necessary to access its features, while holders will also be able to stake it.
They can buy SNORT early by going to Snorter’s website, where the coin currently costs $0.0975.
This price will continue to rise for the duration of the ICO, so investors should act sooner rather than later.
This article first appeared at News
