Ethereum Hits $2,800 Driven by ETF Inflows and Short Liquidations

Ethereum has surged to the $2,800 resistance level, completing a breakout from a bullish flag pattern that points to a technical target of $3,400. The advance follows a multi-day rally from $2,650, propelled by consecutive days of US spot ETF inflows totaling $270 million on Monday and $162.31 million on Tuesday, bringing month-to-date inflows to $620 million. Market-wide short liquidations surged to $924 million, with ETH comprising roughly 20%. Sustained institutional accumulation by BitMine and on-chain indicators, including a positive 365-day MVRV ratio of 3.6%, have further supported the move.