Ethereum has surged past $3,000 to $3,466.02, reaching a six-month high. Institutional investors through spot ETFs now hold over 5 million ETH (4% of supply), creating sustained buying pressure amid improved network activity and macro optimism.

Key Drivers

• ETF Inflows hit $726.74M daily record

• SharpLink Gaming holds 320,000 ETH, signaling corporate adoption

• Dencun upgrade slashed gas fees 90%, boosting L2 ecosystem

• Weekly inflows exceed $908M, showing institutional confidence

Technical Analysis

• RSI at 57 with room for growth

• Golden Cross confirmed (50-day EMA above 200-day)

• Support established at $3,350-3,400

• Fibonacci projections: $4,885-$6,870

• Trader insights note altcoins lagging ETH's performance

Community Sentiment

Sentiment stands overwhelmingly positive (88.18%), with discussions focused on ETH's infrastructure value and tokenization potential. Traders recommend accumulating on dips while monitoring the $ETH $BTC ratio for strength signals.