Ethereum is once again in the spotlight on Wall Street. After nine consecutive weeks of inflows into spot ETFs and noticeable strength against Bitcoin, investors believe ETH is gaining serious momentum. But the big question remains – will Ethereum break the psychological $3,000 barrier, or will it retrace to retest support first?
🔹 Wall Street Has Spoken: Ethereum Looks Strong
Ethereum recently surged past the key resistance at $2,800 – a critical level that had posed challenges since February. This breakout signals strong demand, both from institutional players and retail investors.
While Bitcoin explores new price territories, Ethereum is closely following. Unlike tech stocks, ETH is viewed as a decentralized finance driver and a dividend-yielding asset through staking – making it all the more attractive.
🔹 Technical Indicators Confirm Bullish Momentum
On the weekly chart, Ethereum decisively broke through a previous supply zone, flipping it into potential support at $2,800. This bullish move also left behind a price gap that could draw prices back before the next upward leg.
On the 12-hour chart, ETH barely hesitated at resistance, suggesting a likely retest of the $2,800 zone as demand builds again.
🔹 RSI stands at 77 – indicating overbought conditions, but momentum remains strong.
🔹 CMF (Chaikin Money Flow) shows significant capital inflows (+0.23), signaling that buyers are firmly in control.
🔹 Liquidity Map Suggests More Upside Ahead
Monthly liquidation heatmaps reveal dense liquidity clusters just above the $3,000 mark – levels that often act like magnets for price action. In contrast, the $2,880 zone shows weak support. Even if ETH dips briefly, bulls are likely to regain control quickly.
🔹 Outlook: $3,200 in Sight, but Pullback Still Possible
Given current momentum, ETF inflows, and market sentiment, Ethereum appears well-positioned to push toward $3,200. However, a temporary pullback to $2,800 is still on the table – and swing traders might be eyeing this zone for a new entry.
🎯 Conclusion: Ethereum is gaining steam. Traders should stay alert – the upside is real, but so is the chance of a brief correction.
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