TL;DR
- Ethereum breaks above $3,000 and posts a 19.5% gain over seven days, driven by Bitcoin’s strength and steady institutional inflows.
- ETH spot ETFs moved $1.4 billion in 24 hours and now manage over $12 billion in total assets.
- ETH price is approaching the key $3,067 Fibonacci level; a breakout could open the way to $3,400 and $3,755 in the short term.
Ethereum (ETH) continues to build upward pressure and has crossed the $3,000 mark, supported by strong overall performance in the crypto market and rising institutional demand.
In the last 24 hours, the world’s second-largest cryptocurrency by market capitalization gained nearly 1% and is now trading around $3,030. Its rally coincides with Bitcoin hitting a new all-time high of $123,000 before easing slightly to the $121,000 range. Over the past seven days, ETH has climbed 19.5%, and over the last month, it’s posted a nearly identical percentage gain, rising from $2,100 to current levels.
Ethereum’s momentum aligns with a sharp rise in ETH spot ETF trading volume. According to data from Coinglass, those products handled $1.4 billion in transactions within just 24 hours. The total assets managed by these funds have now surpassed $12 billion, with BlackRock’s ETF leading the market, just as it does in Bitcoin. This steady flow of institutional capital keeps the upward trend intact and leaves room for further gains in the near term.
Ethereum Technical Analysis
From a technical perspective, Ethereum is showing clear signs of sustained bullish momentum. The price is approaching the 61.8% Fibonacci retracement level at $3,067, measured from the December high of $4,107 to the April low of $1,385. A daily close above this mark would set up a move toward $3,400 and, if momentum holds, toward $3,755 — a level not seen since January 5.
The indicators back up this scenario. The 50-day exponential moving average (EMA) crossing above the 200-day EMA confirms a golden crossover, a traditional buy signal that typically anticipates continued upward movement. Meanwhile, an RSI of 73 and MACD lines in positive territory further strengthen the odds of an extended rally.
Since April, the crypto market has added $1.2 trillion in capitalization, driven by the suspension of U.S. tariffs and the recent approval of a tax reform package. In just the past two weeks, Bitcoin alone gained $15,000 — a surge that has lifted the entire crypto sector and kept institutional inflows firmly in place
