Ethereum Overcomes Major Barrier: Experts Anticipate $3K Amid Rising Institutional Interest

Ethereum (ETH) has moved past the significant resistance level of $2,600, creating a wave of optimism in the market as forecasts point towards the important $3,000 level. The coin's recent rally is being seen as the start of a wider altcoin resurgence, fueled by increased institutional interest, whale accumulation, and renewed momentum against Bitcoin.

Investors are attributing Ethereum's upward trend to strong institutional accumulation, with noticeable on-chain signs of major players acquiring ETH. This institutional uptake is supported by CoinShares data, which shows investment products based on Ethereum attracting nearly $1.2 billion over six consecutive weeks.

Despite the bullish outlook, the Ethereum Foundation's significant restructuring and layoffs within its Protocol Research and Development team could introduce short-term uncertainty, potentially affecting ETH's price.