# ETH Breaks Through $3,000 Mark: Strong Upward Momentum Continues

## Recent Price Action

ETH is showing impressive strength, trading at **$3,122.21** as of the latest hour, with a notable uptrend over the past 24 hours. Looking at the hourly candlestick data:

- ETH has gained approximately **4.8%** in the past 24 hours

- Price broke through the psychological $3,000 barrier and has maintained above this level

- Current trading range shows strong support forming around $3,040

## Volume Analysis

Trading activity has been particularly intense during key breakout periods:

- Highest volume occurred during the 21:00 hour with over **$170.9 million** in trading volume

- Recent hours show continued buying interest with the latest hour recording **$75.7 million** in volume

## Market News Highlights

1. **ETH recently breached the $3,000 mark** with a 9.07% increase in a 24-hour period, signaling strong bullish sentiment

2. **Stablecoin circulation at all-time highs** - Both USDT and USDC market caps have increased significantly in July:

- USDT up by $1.4 billion

- USDC up by $1.3 billion

- This increased liquidity often fuels cryptocurrency rallies

3. **USDT ecosystem expanding** - TRC20-USDT issuance reached a record 81.6 billion tokens, while USDT0 has been integrated with Bitcoin's Rootstock Layer 2 network

## Market Outlook

The combination of ETH's technical breakout above $3,000 and the expanding stablecoin market cap suggests continued bullish momentum. The increased trading volumes during upward price movements indicate strong buyer interest.