Active addresses on the Ethereum network have increased significantly, which means people are actually using the network more, whether in trading, transferring, or using decentralized applications. Along with this, there is an increase in capital flows from investment institutions, indicating that 'smart money' is coming in strongly.
Even data from the futures market supports the rise, and analysts see that $ETH could continue to rise, especially if it breaks certain price levels.
Simply put... Ethereum is on an upward path, and confidence in it is growing day by day.