Ethereum (ETH-USD) Surges Past $3,000 as Bullish Momentum Builds

Ethereum (ETH-USD) Tests $3,000: On-Chain Surge, Whale Moves, and ETF Demand Fuel Breakout

ETH-USD Gains Momentum From Whale Activity and Market Liquidity

Ethereum (ETH-USD) has crossed the $3,000 threshold with a weekly gain of 6.49%, currently trading at $2,995.43. This surge reflects mounting institutional and retail confidence driven by a combination of macroeconomic tailwinds, liquidation flows, and aggressive whale accumulation. A major round of short liquidations near the $2,700 and $3,000 zones triggered cascading buy orders, particularly on Binance, fueling a sharp upward price move amid thin liquidity. As a result, ETH's open interest has surged to nearly $7 billion, reflecting leveraged positions aligned with bullish expectations.

Whales Drive Up ETH Supply Tightness While Reserves Fall

CryptoQuant data reveals that ETH reserves on exchanges dropped 2.03%, reducing available supply and intensifying price sensitivity to buying pressure. Meanwhile, IntoTheBlock reported a net 18.95% increase in large whale purchases over the past week, signaling high-conviction accumulation. These whale movements mirror the dynamics seen in early 2021 before ETH’s previous all-time high. Institutional actors and dormant wallets have re-entered the accumulation phase, including a 120,918 ETH ($317 million) deposit on exchanges—balanced by steady long-term wallet growth.

Derivatives Data Show Extreme Bullish Sentiment and Rising Leverage

Derivatives indicators are flashing green. The average funding rate is notably positive, a sign traders are willing to pay premiums to maintain long positions. This behavior has historically led to breakout rallies. ETH’s current positioning mirrors past leverage surges that preceded 20–40% gains. The Fibonacci resistance zone at $3,000 aligns with a 1.618 level, and the next projected levels lie at $3,457 and $3,870. Despite Stochastic RSI signaling overbought conditions, historical precedents suggest a short squeeze could continue driving price discovery.

Ethereum’s Technical Support Aligns With Whale Clusters at $2.8K

The price consolidation between $2,800 and $3,300 represents a critical range where short-term pullbacks may find support. A decisive retest of the $2,800 level could create the base for a breakout toward $3,500 and $4,000. Binance liquidation heatmaps suggest a liquidity cluster just below $2,800—a magnet for potential retracement. ETH bulls will aim to absorb any downside within this zone to validate recent breakouts.

On-Chain Metrics Flash Bullish as MVRV, SOPR, NUPL Flip Positive

Ethereum’s MVRV Z-Score, SOPR, and NUPL indicators have all shifted into bullish territory for the first time in months. The MVRV Z-score recently crossed above zero—a level that previously led to parabolic rallies in 2017 and 2021. The SOPR flipped above one and successfully retested it, confirming profit-taking momentum is being met with stronger inflows. The NUPL crossed 0.3 this week, confirming the sentiment transition from anxiety to confidence. These three metrics have historically preceded bull cycles with 50–100% rallies in ETH.

ETF Inflows and Ethereum 2.0 Roadmap Reshape Market Outlook

Increased flows into Ethereum-focused ETFs are amplifying institutional access and reducing volatility. This structural shift is compounded by Ethereum 2.0 migration progress and the roadmap for zkEVM deployment, which is expected to bolster scalability and reduce gas fees. These enhancements could elevate ETH's role in powering DeFi and NFT infrastructure while making it a key asset for regulated financial products. The Ethereum Foundation’s internal Gnosis Safe transfers and OTC deals—like the SharpLink acquisition of 10,000 ETH—have also supported price stability.

Altcoin Rotation: UNI, ENA, RTX Fuel Broader Market Appetite

Ethereum’s rally is accompanied by strong upside in altcoins. Ethena (ENA) has surged 14.36% with 357% volume growth, while Uniswap (UNI) is up 7.32% to $8.85. The Remittix (RTX) presale has raised over $16 million, with its utility around fiat-to-crypto payments pushing speculative flows into the DeFi space. RTX is now seen as a potential 100x altcoin as retail investors chase ecosystem bets.

Ethereum Faces Short-Term Resistance But Macro Trend Remains Bullish

Despite the overbought RSI and risk of pullback to $2,800, Ethereum’s macro trajectory appears aligned with a move toward $3,400 and possibly $3,800 in Q3 2025. Institutional inflows, a shrinking exchange supply, surging derivatives interest, and bullish on-chain signals build a compelling case for sustained upside. The rally may briefly pause near resistance zones, but unless ETH closes below $2,800, the structure remains bullish.

ETH-USD Rating: BUY With Upside Toward $3,870–$4,000

All major metrics—technical, fundamental, and on-chain—suggest Ethereum is in the early stage of a new upward leg. The probability of breaking the $3,300 barrier and testing $3,500+ is high given the synchronized whale accumulation, falling supply, and ETF-driven demand. Based on current price of ~$3,000 and mid-term projections of $3,870 to $4,000, the upside stands at +29% to +33%. This supports a clear BUY rating for ETH-USD with bullish conviction.

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