ETH ETF Inflows Fuel Price Surge as Analysts Eye $2,908 Resistance

Ethereum's price has been on an upward trajectory following a significant week for crypto ETFs. According to data, spot Ethereum ETFs recorded $105M in net inflows from July 13 to 17, with BlackRock's ETHA alone attracting $135M.

This influx of investment has led to increased adoption of crypto ETFs, and Ethereum's price is benefiting as a result. At the time of writing, ETH trades at $1,855.77 on July 20, down 0.81% but holding above the 20-day EMA.

A Fibonacci extension framework has been applied to the daily chart, placing the next major resistance at the 1.618 level of $2,908.