Ethereum analysts see ‘further upside’ as ETH price reclaims $3.6K

Key Points

1. Ether's price reclaimed $3,600 after a brief drop to $3,500, with major resistance at $4,500 and support between $2,000 and $3,000.

2. The ETH/BTC exchange inflows ratio is at a five-year low, indicating lower selling pressure for ETH compared to Bitcoin, which supports further upside.

3. The ETH/BTC ETF holding ratio has increased, showing growing investor preference for ETH over Bitcoin, contributing to ETH's price outperformance.

4. Spot Ethereum ETFs have seen significant inflows, reaching $16.6 billion in assets under management, while Bitcoin ETFs experienced outflows.

5. Onchain data highlights key ETH price levels, with $4,500 as a major resistance and $3,000 as a critical support level for potential corrections.