Ethereum Price Prediction: Why Is ETH Still Flat After Five Straight Weeks of ETF Inflows?
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ETH trades at $1,867.68 on August 5, rangebound between $1,837 support and $1,939 resistance, holding the 0.382 Fibonacci while the descending trendline remains unbroken and MACD has not turned bullish. Spot ETH ETFs logged $53.75M on August 4 led by BlackRock’s $42.46M for a fifth straight positive week, and developers proposed EIP-8363 to burn 100% of validator rewards once staked ETH hits 60.25M, a supply-changing proposal that could impact token supply and adoption but has not yet moved price.
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- ETH trades at $1,867.68 on August 5, rangebound between two Fibonacci levels with MACD yet to turn bullish
- Spot ETH ETFs logged $53.75M on August 4 led by BlackRock’s $42.46M, opening a fifth straight positive week
- Six Ethereum developers proposed EIP-8363, which would burn 100% of validator rewards once staked ETH hits 60.25M
Five straight weeks of ETF inflows and a validator reward burn proposal that could reshape ETH’s supply, and the price is barely moving. ETH trades at $1,867.68 on August 5, flat on the day, with the $1,900 trendline still overhead and the market still waiting for something to force a decision.
ETH Holds the 0.382 Fibonacci but the Descending Trendline Has Not Broken
ETH is trading at $1,867.68, sitting between the key support level at $1,837 below and the $1,939 resistance above. Today’s session…
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