Ethereum rebounded to $3,600 after testing $3,500 support this week, showing resilience despite a recent 9% pullback from seven-month highs. The recovery underscores ETH’s stabilizing momentum amid heightened institutional interest.
Critical resistance awaits near the $4,500 threshold – a level historically associated with market euphoria. Meanwhile, Glassnode’s onchain analysis reveals a robust long-term support floor between $2,000-$3,000 anchored by realized price metrics, providing structural confidence for holders.
Market dynamics reflect strengthening fundamentals: Spot Ethereum ETFs amassed over $16.6 billion in assets under management, amplifying institutional demand. Concurrently, declining ETH/BTC exchange inflow ratios signal comparatively lower selling pressure for Ethereum versus Bitcoin, easing sustained downward risks.