Ether ETF inflows reach $2.1B in December amid price struggles
Ether (CRYPTO:ETH) exchange-traded funds (ETFs) saw a significant increase in net inflows, reaching a record $2.1 billion in December.
This marked a sharp rise from the previous month’s $1 billion, as reported by Farside Investors.
Despite the robust inflows, Ether’s price has struggled to break the $3,500 resistance level.
As of the latest data, Ether’s price stood at $3,353, marking an 8.4% drop for the month.
This price decline has led some traders to capitalise on the situation.
One trader made over $1.1 million in profit from a 50x leveraged short position on Ether.
The growth in ETF inflows has fueled optimism about Ether’s price prospects for 2025.
Analysts predict a potential rally, with asset management firm VanEck forecasting a price peak of $6,000 for Ether in 2025.
However, Ether faces significant resistance at the $3,500 level, and a break above it could lead to the liquidation of over $1 billion worth of short positions, according to CoinGlass data.
Currently, Ether’s price is 31% lower than its all-time high of $4,800 reached in November 2021.
However, technical analysis suggests that Ether has entered an accumulation phase, which could see the price rise above $4,400 during the first quarter of 2025.
Crypto analyst TMV, in a post on December 28, indicated that the accumulation wave may continue and that a price target of $4,400 is likely.
However, the analyst warned that if the price falls below $2,914, this bullish outlook would be invalidated.
Despite the price struggles, most analysts remain positive about Ether’s price trajectory for early 2025.
At the time of reporting, the Ethereum price was $3,407.07.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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