#ETHBreaks3k Ya, Ethereum (ETH) recently surpassed the $3,000 mark — with an intraday peak reaching around $3,074 — although it is currently around $2,974.

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🚀 What is Driving This Breakout?

1. Institutional Flow & ETF

Spot ETH ETFs have seen record fund inflows — for example, over $383M in one day, with total ETF transfers reaching $500–907M.

Ethereum-related funds have grown about 19% over the past 12 weeks, outpacing Bitcoin inflow growth.

2. On-Chain Indicators & Whale Activity

Exchange reserves have decreased (~2% lower), while whales have been accumulating, signaling a tightening supply.

A rare bullish 100-day EMA crossover above the 200-day EMA (a long-term “golden cross”) has occurred, often indicating a sustained upward trend.

3. Technical Chart Patterns

ETH has broken through key resistance in the $2,800–3,000 range and is now consolidating above $3,000.

A bullish flag breakout suggests potential for a big move — possibly toward $5,000 — based on pattern targets.

Key Fibonacci resistance is now around $3,060–3,061, with the next targets near $3,200–3,400, and even higher towards $4,400.

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🔎 What’s Next?

Scenario Description

Bullish Continuation Holding above $3,000 could pave the way to the next $3,200, then possibly $3,500–$4,400 if momentum continues.

Pullback Risk Profit-taking could push ETH down towards $2,900–$2,800, with strong support around $2,500 backed by accumulation from large holders.