Ethereum Approaches $3,000 as Market Sentiment Shifts and ETF Inflows Climb
Ether (ETH), the native token of the Ethereum network, rallied on Thursday, pushing toward $3,000 for the first time in over four months. The surge came as bitcoin (BTC) set new all-time highs, fueling broader momentum across crypto markets.
ETH gained 6.7% over the past day, recovering some ground after underperforming both BTC and Solana (SOL) during this market cycle. Analysts say sentiment around ether is improving.
“ETH has taken the lead in price momentum, rallying off recent lows amid a pickup in derivatives activity and growing enthusiasm around its broader role in settlement and tokenization infrastructure,” said Joel Kruger, market strategist at LMAX Group.
U.S.-listed spot ETH ETFs have attracted over $500 million in inflows this month, reflecting rising institutional interest in the asset. Meanwhile, corporations are expanding crypto treasury allocations beyond bitcoin. Companies like Sharplink Gaming and Bitmine Immersion Technology have recently added ETH to their balance sheets.
Prominent crypto trader Pentoshi pointed to this trend in a recent post on X:
“In less than one month, public companies will have bought enough ETH to offset all the ETH that’s been created since the merge. It’s 1/9th the market cap of BTC and takes far less capital to move. That capital is clearly coming.”
Technical Insights:
- CoinDesk data shows ETH spiked 6% between 20:58 UTC and 21:57, jumping from $2,819.07 to $2,996.85.
- The rally unfolded in phases, beginning with consolidation near $2,824, followed by breakouts through resistance levels at $2,845, $2,870, and $2,920, and peaking just shy of $2,993.
- Support was established around $2,756.18 and $2,761.11.
- Significant resistance has formed near $2,993.34, which could determine the next price direction.
As ether tests key levels, traders are watching whether the asset can decisively break through $3,000, potentially setting the stage for a stronger altcoin rally.
