#ETHBreakout3_5k $ETH
Here’s the latest on Ethereum’s breakout:
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📈 Price & Technical Snapshot
Current Price: $3,557.77 (slightly down on the day, range between ~$3,490–$3,598)
Momentum: $ETH reclaimed $3K and has surged past $3.1K and $3.4K, completing bullish breakouts. Traders are eyeing $3.5K next .
Key Drivers of the Rally
1. Institutional Inflows & ETF Demand
Ethereum spot ETFs have attracted significant capital:
~$900 M between July 7–11 alone .
Another $727 M on July 17; ~$1.8 B over the last 5 days.
These inflows have boosted open interest to around $46 B .
2. Bullish Technicals
Daily RSI crossed key thresholds; MACD has bullish crossovers .
ETH stabilized above its Fibonacci retracement zones (0.618 at ~$3,061, 0.786 at ~$3,524) and key EMAs .
3. On‑Chain & Ecosystem Strength
Active addresses are up $78 B) .
Rising gas fees, Layer‑2 growth, and reduced exchange balances signal tight supply .
