Ethereum looks to break $3,500 as RSI 'buy signal' targets $10K ETH price

Key Points

1. Ethereum's price surged to a six-month high of $3,481, fueled by a 10% increase in 24 hours and 25% in seven days, alongside record spot ETH ETF inflows totaling $727 million in a single day.

2. Spot ETH ETFs have attracted over $1.76 billion in five days, with issuers now holding 4% of the total ETH supply, indicating strong institutional demand.

3. Ethereum's network activity is rising, with active addresses increasing by 9.4% over 30 days and daily fees up 475% since July 5, reflecting heightened demand and DeFi usage.

4. Ethereum's Total Value Locked (TVL) reached a three-year high of $78.2 billion, marking a 36% increase in three weeks, and maintaining a 58% dominance in the layer-1 market.

5. Technical analysis suggests a bullish outlook, with the RSI signaling a 'buy' in April, historically preceding significant rallies, and analysts projecting ETH could reach $7,000-$10,000.