🚀 Ethereum Under Pressure: Can ETH Break Above $3,000?
Ethereum (ETH) is closely tracking Bitcoin, moving in its shadow. Institutional interest in ETH is growing rapidly—but is it enough to push ETH above $3,000 while retail traders keep taking profits?
📈 ETH Follows Bitcoin
Ethereum’s correlation with Bitcoin has sharply increased since late June—hinting at potential upside.
🏦 Strong Institutional Support
ETH is hitting new records: CME futures open interest has reached $3.27B. Total open interest across platforms is around $36.6B. Spot ETH ETFs continue seeing steady inflows—over $219M was added just last week.
🛍️ Retail Selling Pressure
While institutional players are accumulating, retail traders are selling. IntoTheBlock data shows a 16% drop in ETH held by “short-term” holders (less than 30 days) since July 4.
🧭 What Analysts Say
Analysts are watching an ascending triangle breakout on ETH’s chart—a classic bullish pattern. According to Cas Abbé’s model, a monthly close above $3,000 could trigger the next "impulsive phase" of growth.
🔮 Summary:
Institutional demand and technical patterns suggest ETH could break above $3,000.
But retail selling pressure may slow down the rally—unless new buyers step in.
❓ What’s your take? Will ETH cross $3,000 this month?
1️⃣ 🚀 Yes, breakout soon
2️⃣ ⏳ Wait-and-see — needs more volume
3️⃣ 🛑 No, retail selling will hold it back