Analyst: Ethereum spot ETF demand recovery, increased on-chain activities and other favorable factors may push ETH to break through the key resistance of $2,000

Mars Finance News, on April 29, Cointelegraph analyst Nancy Lubale stated that the recovery of spot ETF demand for ETH, increased on-chain activity, and bullish technical patterns may drive ETH to break through the next key resistance level of $2,000. On April 28, the total net inflow of the ETH ETF reached $64.1 million. Previously, as of the week ending April 25, the total net inflow of the ETH ETF reached $151.7 million, the highest level since February 2025, reflecting the growth of institutional demand. The total value locked (TVL) on the Ethereum network exceeded $51.8 billion, growing by about 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 the ETH/USD pair encountered resistance at $1,860, it is likely to resume its upward momentum, as the chart shows a typical bullish pattern.