🚀 Ethereum rebounds above $3,250 and aims for $3,400, backed by institutional accumulation and signs of recovery in the DeFi market

📉 $ETH trades at $3,268, after a push from recent lows of $3,170. Although the rally is still moderate, it remains above a key bullish structure and with strong open interest in derivatives.

🧩 Key factors:

– The spot ETH ETF in the U.S. still lacks formal approval, but institutional flows have already surpassed $65M so far in July.

– Open Interest in ETH futures is increasing, reaching $5.8B, +22% in the last 7 days.

– Activity in L2 (such as Arbitrum and Base) raises effective TPS above 80 TPS, with 1.9M active wallets on the Ethereum base.

– TVL in DeFi on ETH grows +9.8% weekly and already exceeds $58.3B, leading protocols like Lido, Aave, and EigenLayer.

📊 Technical level of the day:

• Strong support: $3,150–$3,200

• Intraday resistance: $3,340–$3,400 ➜ breaking this range could open the door to $3,600–$3,800 in extension.

💡 Outlook: consolidation with a bullish bias. ETH maintains a favorable technical structure in larger time frames, with increasing support from derivatives and accumulation on L2 chains.

👇 Is ETH preparing the ground for a new rally ahead of the ETF?