Ethereum shows increasing potential for a major price breakout toward the $3,000 level, buoyed by favorable technical indicators and substantial institutional inflows.
Currently trading at $2,465 within a $2,400 to $2,700 consolidation range, ETH is nearing critical resistance on its weekly Relative Strength Index (RSI). This technical setup, combined with sustained heavy trading volume, suggests building upward momentum. Particularly strong volume above the $2,500 level indicates robust demand potentially capable of breaking ETH out of its current range.
Institutional engagement remains a key driver with Ethereum futures open interest holding firm at $35.36 billion. Spot Ethereum exchange-traded funds have attracted a cumulative $283 million in inflows, reflecting growing mainstream acceptance.
Broader crypto market sentiment faces uncertainty due to upcoming remarks from Federal Reserve Chair Jerome Powell, with potential implications for risk assets. Should Ethereum overcome resistance, analysts project an accelerated push toward the psychologically significant $3,000 threshold.