Ether (ETH) experienced significant volatility this week, reaching a 15-week high of $2,879 on Wednesday before dropping 15% to $2,433 by Friday. Currently, ETH is consolidating near $2,600, but longer-term patterns suggest possible corrections in the coming weeks.
On the weekly chart, ETH forms an ascending channel characterized by higher highs and lows within upward-sloping parallel lines. While signaling an overall uptrend, a breakdown below the support trendline could push prices toward the $2,100-$2,200 range, a multimonth support zone seen since late 2023.
Historically, ETH shows modest average returns in Q3, following recent quarters of significant declines. Coupled with typically lower trading volumes and volatility during summer months, this suggests prices could revisit the $2,100-$2,200 support level.
However, a dip to this zone may present a strategic buying opportunity. Spot ETH exchange-traded funds (ETFs) have seen inflows surge, with 154,000 ETH added in one week—five times the recent average. Notably, BlackRock has increased its ETH holdings in its iShares Ethereum Trust by over 500 million dollars recently, signaling strong institutional interest.
Tokenized assets under management have surpassed $5 billion, driven by major financial and fintech firms. This institutional accumulation, combined with traditional year-end investment strategies that often boost Q4 performance, points to a potential ETH breakout by the end of 2025.
This article does not constitute investment advice. All trading and investment decisions carry risks, and readers should perform their own research.