• Ethereum investment inflows witnessed a resurgence following outflows that dominated nine weeks.
  • The latest surge in Ether investment fund inflows shows institutional investors re-accumulating the altcoin.
  • ETH displays a positive picture, but the coin might meet multiple obstacles ahead.

ETH investment products saw substantial inflows recently as investors accumulated the token. For instance, Crypto investment products register $75.3 million inflows over the past week. Such developments mean a lucrative sentiment for Ether price.

ETH Inflows Overcome 9-Week Outflow Spell

Ether investment funds inflows saw a massive surge last week, attracting capital worth $20.9 million. With that, the crypto broker outflows spell persisted for nine weeks. Moreover, that shows institutional investors re-accumulating ETH coins.

CoinShares data shows crypto investment products recorded inflows worth $75.3 million. However, regional variances exist, with European products registering $80.7 million in inflows, while America’s outflows stood at $5.5 million.

Nevertheless, the latest inflows remain low compared to inflows attained in 2021 Q4. Meanwhile, multi-cryptocurrency investment products gained popularity, inflows hitting $19 million the past week.

ETH Price Encounters Challenging Hurdles

Ethereum price presents a positive narrative as the altcoin printed an ascending channel on its 12hr chart. The governing technical formation gives a bullish target of $3,585, matching the 127.2% FIB extension zone.

Ethereum’s stiff obstacles are around the 21 12hr Simple Moving Average near $3,039, corresponding with a 78.6% FIB retracement mark. Another challenging obstacle stands near 100 12hr Simple Moving Average at $3,103.

ETH price might encounter another hurdle around the Momentum Reversal Indicator’s resistance at $3,354 before Ether hits the optimistic goal of $3,585. Meanwhile, faltered bullish momentum will have ETH price plummeting to the prevailing chart’s lower boundary at $2,887, then 61.8% FIB retracement area near $2,851.

Ethereum Price Outlook

Ethereum saw its price gaining 5.5% within the past day, topping $3,000 once more at this publication. Meanwhile, the leading altcoin touched intra-week lows of $2,850 during Monday sessions. However, the token bounced, recording a 12.6% upward move within two weeks. Nevertheless, Ethereum trades around 38% down from the 10 November ATH of $4,878.

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