Analyst: The recovery of demand for Ethereum spot ETFs and increased on-chain activity may drive ETH to break through the key resistance level of 2000 USD

ChainCatcher news, Cointelegraph analyst Nancy Lubale stated that the renewed demand for Ethereum spot ETFs, increased on-chain activity, and bullish patterns in the technical analysis may drive ETH to break through the next key resistance level of $2000.

On April 28, the total net inflow for Ethereum ETFs reached $64.1 million. Previously, as of the week ending April 25, the total net inflow for Ethereum ETFs was $151.7 million, marking the highest level since February 2025. This reflects the growth in institutional demand. The total value locked (TVL) in the Ethereum network exceeded $51.8 billion, growing by approximately 16% over the past seven days. The daily trading volume of Ethereum's DEX increased by over 30% in the past week, reaching $1.65 billion.

Additionally, although ETH/USD faced resistance at $1,860, it is likely to regain upward momentum as the charts indicate a typical bullish pattern.