Ethereum

bullish

Resistance

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Ethereum (ETH) surpasses the $3,000 mark, backed by substantial ETF inflows and strong technical indicators.</li>
 <li>Over 2.8 million addresses purchased ETH at the current price, making it a significant level.</li>
</ul>
<h2 id="ethereum-breaks-through-3-000-resistance">Ethereum Breaks Through $3,000 Resistance</h2>
<p>Ethereum (ETH) has recently broken through the $3,000 price level, a resistance that had held firm for months.</p>
<p>This coincides with a record inflow in Ethereum’s spot ETF, indicating a new phase of bullish momentum.</p>
<h2 id="record-etf-inflow-fuels-ethereum-s-breakout">Record ETF Inflow Fuels Ethereum’s Breakout</h2>
<p>Analysis of Ethereum’s ETF flow over the past week revealed a net inflow of $154.66 million, setting a new record for weekly positive flows.</p>
<p>This marks Ethereum’s second consecutive week of net inflows, a historic milestone.</p>
<p>This surge in institutional backing has helped Ethereum surpass the $3,000 barrier, strengthening its upward momentum.</p>
<p>Ethereum is currently trading at $3,027.90, experiencing a strong bullish breakout.</p>
<p>This move signifies a significant rally as Ethereum moves past the $3,000 psychological resistance, indicating investor confidence in the asset.</p>
<p>The 50-day and 200-day Moving Averages (MA) serve as support levels for the current bullish run, with volumes also increasing, signifying strong buying interest.</p>
<p>If this trend continues, Ethereum could target higher levels, with the next resistance zones possibly around $3,200 or higher.</p>
<h2 id="ethereum-s-mvrv-ratio-indicates-profitability">Ethereum’s MVRV Ratio Indicates Profitability</h2>
<p>The 30-day Market Value to Realized Value (MVRV) ratio for Ethereum indicates that many holders are in profit as Ethereum trades above $3,000.</p>
<p>A rising MVRV ratio suggests that profit-taking could soon begin, which might introduce selling pressure.</p>
<p>At the time of writing, the MVRV was almost at 15.6%, the highest since May.</p>
<p>Analysis shows that 2.86 million addresses bought Ethereum around the current price, making this level very important, as a rise beyond it could trigger an all-time high (ATH).</p>
<p>If the MVRV ratio continues to climb, more holders will be in profitable positions, and the market could see natural corrections.</p>
<p>With rising institutional interest, Ethereum’s new support level could be near the $3,000 mark, reducing the impact of minor sell-offs.</p>

Ethereum Soars Past $3,000: Will the Momentum Sustain?

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CoinEagle.com

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