Ethereum (ETH) Institutional Inflows Hit Yearly High During Ongoing Rally

Ethereum is finally gaining momentum after trading sideways for the last few months. This week, Ethereum's institutional products have exceeded $2.2 billion in net inflows which is a new yearly high.

Institutions are flocking to Ethereum (ETH) as the token’s price continues to rise. According to CoinShares data, ETH institutional products saw a net inflow of $2.2 billion last week, marking the highest level of institutional inflows for ETH this year.

Institutions are buying up ETH as its price slowly rises. As reported by a local crypto news outlet on Monday, institutional inflows into ETH products hit a yearly high of $2.2 billion last week. This news comes as ETH is finally gaining momentum after trading sideways for the last few months.

The massive institutional interest in ETH follows a report last week that highlighted a critical breakout in the token’s technicals. As highlighted by crypto analysts, this breakout could lead to a quick surge in ETH price to critical levels.

Institutions are also turning to ETH as a hedge against Bitcoin’s (BTC) recent downturn. While BTC price experienced a strong upswing earlier this month, the token’s price quickly fell last week due to increased selling activity. This selling pressure also affected ETH, causing a minor price crash of 1.43%.

However, ETH recovered from this price dip quickly, thanks to buying pressure from institutions. This institutional buying also helped ETH avoid any further price crashes, despite Solana’s (SOL) recent price struggle.

Solana’s price experienced a smooth upswing of more than 36% over the last 30 days before selling activity surged. Last week, Solana holders were quick to sell their assets as the token’s price crashed by a minor 1.43%. This correction can also be attributed to Solana’s RSI which entered the overbought zone on the SOL/USDT daily chart.

Solana’s price experienced a smooth upswing of more than 36% over the last 30 days before selling activity surged. As highlighted by technical analysis, this price action might be slowing down due to a critical resistance level. However, Solana’s RSI has made a quick recovery which suggests that another price rally is still possible before the end of Q4.

Solana is currently trading for $224.58 after a minor intraday increase of 0.37%. As you can see from the price chart above, Solana experienced a massive price rally over the last few months. However, this price upswing also led to several selling waves which caused the token’s price to crash by more than 10% on several occasions.

Despite these price dips, Solana is still up by more than 36% over the last 30 days. This price performance also aligns with the token’s recent technical analysis which suggests that another price rally is still possible before the end of the year.

According to the SOL/USDT daily chart, Solana’s price might be preparing for another upswing as its RSI quickly recovered from overbought levels. This technical indicator usually signals buying or selling pressure and a quick recovery often indicates another price rally.

However, another technical analysis also suggests that Solana’s price might be facing resistance at the $225 level. This price level has acted as a critical resistance zone on multiple occasions this year.

Solana also experienced a critical breakout from this price level earlier this year which led to a massive price rally. However, Solana’s price failed to cross this level on several occasions this year.

Solana’s price also experienced a critical breakout from this price level earlier this year which led to a massive price rally. However, Solana’s price failed to cross this level on several occasions this year.

As a result, technical analysts believe that Solana’s price could experience another breakout from this resistance level soon. If this breakout occurs, Solana’s price could quickly surge to the $300 and $400 levels before the end of Q4.

Solana (SOL) might be experiencing a brief price correction after a massive upswing. However, on-chain data suggests that another price rally is still possible before the end of the year.

Solana’s price experienced a smooth upswing of more than 36% over the last 30 days before selling activity surged. As highlighted by technical analysis, this price action might be slowing down due to a critical resistance level. However, Solana’s RSI has made a quick recovery which suggests that another price rally is still possible before the end of Q4.

Solana is currently trading for $224.58 after a minor intraday increase of 0.37%. As you can see from the price chart above, Solana experienced a massive price rally over the last few months. However, this price upswing also led to several selling waves which caused the token’s price to crash by more than 10% on several occasions.

Solana’s price experienced a smooth upswing of more than 36% over the last 30 days before selling activity surged. As