Ethereum's recent pump is mainly driven by:

1. Big trading volume: Over $18.5B in 24h, signaling heavy buying.

2. Regulatory clarity: Positive U.S. moves on crypto laws boosted confidence.

3. Bullish patterns: Traders targeting $3,200 based on technical signals.

4. Institutional inflows: Large investors are accumulating ETH again.

Overall, ETH is gaining momentum, and if resistance breaks, another pump could follow soon.