News: Ethereum traded near $2,437 on Friday, testing bullish momentum with a $2,520 resistance level in focus. Institutional adoption is growing, with Charles Schwab now offering direct spot Ethereum trading and US spot Ethereum ETFs recording $18 million in net inflows on April 16th, led by BlackRock’s ETHA. Ethereum’s supply is tightening, with Binance exchange reserves falling from 7.7 million ETH to 3.31 million ETH. The asset is trading above its 20-day and 50-day simple moving averages, but remains below the 200-day simple moving average. Open interest has climbed to a record $32.67 billion.
AI Analysis: The confluence of increasing institutional interest, tightening supply, and positive technical indicators suggests a continued upward bias for Ethereum in the short term, though a breakout above $2,520 is needed to confirm further gains.
