Ethereum (ETH) could climb to $2,650 before the end of August, according to trader positioning on the prediction market platform Kalshi. The forecast chart on Kalshi shows a $2,650 target, a projected rise of 585.4 points, indicating that participants are leaning toward continued short-term gains for the cryptocurrency. Unlike spot exchanges, prediction markets such as Kalshi, a US-regulated venue for event contracts, let users take positions on whether an asset will reach a specific level by a set date, so the aggregated positioning offers a read on crowd expectations rather than a guarantee of where prices will land.

The prediction follows a 20% weekly jump that pushed Ether above $2,400, although gains have slowed since then as traders take profits. Broader market conditions have also cooled: the total cryptocurrency market capitalization fell 1.95% over the past day to $2.61 trillion. Bitcoin stayed near $78,000, just below the $80,000 mark, while XRP settled at $1.44 after a 5% pullback over two sessions, a correction that followed a strong rally the previous week.

Ethereum ETF Inflows Rise

Spot Ethereum ETFs brought in $179.80 million in net inflows on August 25, according to data from SoSoValue. The funds, which launched in the United States in July 2024, give institutional and retail investors share-based exposure to ETH without holding the token directly. BlackRock's ETHA led all funds with $146.44 million in inflows, followed by Fidelity's FETH with $25.75 million. BlackRock's ETHB added a further $7.61 million.

Combined, Ethereum ETFs now hold $14.88 billion in assets, a figure equal to 5.06% of Ethereum's total market capitalization, a footprint that makes the funds' daily flows a closely followed gauge of institutional demand. Daily trading volume across these funds reached $980.49 million, while total historical net inflows have grown to $12.45 billion.

ETHA remains the largest fund with $8.23 billion in assets, though it dipped 0.46% in recent trading. Grayscale's ETHE, which entered the market as the conversion of Grayscale's pre-existing Ethereum trust rather than as a newly seeded fund, has seen $5.35 billion in net outflows but still holds $1.87 billion in assets.

Price Levels to Watch

Ethereum traded at $2,451.51 on August 26, down 0.44% on the four-hour candle. The price has held above the $2,350 support level despite the recent slowdown.

Momentum indicators reflect cooling conditions. The four-hour relative strength index (RSI) fell to 55.57, a neutral reading after recent overbought conditions, while the MACD line sits below the signal line with a negative histogram.

A close above $2,500 could open the path toward $2,600 and $2,800, the next resistance zone traders are watching. Conversely, a second rejection near $2,500 could send Ethereum back down to the $2,350 support area. A break below that level would bring $2,000 into view, with $1,800 as a further downside target. As the month-end Kalshi deadline approaches, the persistence of ETF inflows alongside these chart levels is among the demand signals market watchers are tracking.

Source: Blockonomi