Traders pin their ETH price target at $3,400 as Ether treasury purchases and ETF inflows propel Ether price.
Key point:
Strong inflows into the Ether ETFs and purchases by Ethereum treasury companies suggest investors expect the rally to continue.
Ether (ETH) is witnessing selling above the $3,000 level, but a positive sign is that the bulls have not given up much ground. That suggests the investors are backing it for more upside. Farside Investors’ data shows more than $1 billion in inflows into Ether exchange-traded funds since July 9.
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