Ethereum (ETH) climbed sharply on Monday, gaining over 3.71% to trade at $2,614, despite escalating geopolitical risks in the Middle East. The rally was driven by renewed risk appetite across global markets and substantial institutional inflows into Ethereum-linked investment products.
ETH Breaks Above $2,600 Despite Global Conflict Concerns
Ethereum rallied from $2,510 to $2,636 intraday, holding firm above $2,600 throughout U.S. trading hours.
This performance came even as tensions between Israel and Iran intensified. Yet, global financial markets — including Tel Aviv equities and U.S. futures — remained surprisingly calm. The crypto market mirrored this sentiment, with all major digital assets posting gains.
$583M Flows Into Ethereum Funds in a Week
Ethereum investment products attracted $583 million last week, the highest inflow since February.
Over the past nine weeks, Ethereum has seen a total inflow of $2 billion, accounting for 14% of total assets under management across ETH-based funds. This highlights the growing institutional confidence in Ethereum’s long-term potential, even amid global uncertainty.
Futures Data Confirms Bullish Positioning
Open interest in ETH futures stands at 13.89 million ETH, worth approximately $36.3 billion.
The rise in open interest reflects heightened trading activity and bullish sentiment among sophisticated investors. These metrics further support the view that Ethereum’s rally has strong backing beyond short-term speculative behavior.
Technical Analysis: Key Levels and Price Action
- Rally Range: ETH moved within a $126 range, from $2,510 to $2,636 (+5.05% intraday).
- Resistance Break: ETH broke past $2,550 on rising volume.
- Support Zone: Strong buying around $2,575, with 311,000 ETH traded during the 05:00 GMT candle.
- Momentum: Three consecutive green hourly candles pushed ETH above $2,600, confirming a bullish trend.
- Short Dip and Recovery: A brief drop at 07:18 to $2,622 was followed by a quick rebound.
- Structure: Price consolidation formed an ascending triangle, typically signaling continued upside.
Market Outlook
Ethereum’s strength amid geopolitical tensions, combined with institutional inflows and bullish technicals, points to continued upward momentum.
While macro uncertainty persists, ETH’s resilience and capital inflows suggest strong foundational support for further gains. Holding above the $2,600 level will be key for the next phase of the rally.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.