Ethereum surged to its highest level in over four months, driven by strong ETF capital inflows and renewed interest in its cryptographic role. The price is near the critical resistance level of $3,000, with support at $2,750. ETH skyrocketed to $3,000 as the ETF inflow and cryptographic narrative generated new momentum. ETH's native token soared to its highest price in over four months on Thursday, approaching the important psychological threshold of $3,000, as Bitcoin (BTC) set a new all-time high above $115,000.
According to CoinMarketCap data, this price surge marks a 6.7% increase in 24 hours, bringing ETH to $2,996. The second-largest cryptocurrency has underperformed in this market cycle compared to BTC and Solana (SOL), but sentiment around ETH seems to be changing. Increased spot ETF inflows and institutional demand Analysts suggest that Ethereum's bullish momentum is due to several favorable structural factors. These include: Over $500 million in spot ETF ETH inflows into the U.S. in the month to date. Cryptocurrency fund allocations from companies expanding beyond BTC to include ETH, with firms like Sharplink Gaming and Bitmine Immersion Technology adding ETH to their balance sheets. An increasingly strong narrative surrounding Ethereum's role in payment infrastructure and cryptographic frameworks. "ETH has led in price momentum, recovering from recent lows amid increased derivatives activity and growing enthusiasm around its broader role in payment and cryptographic infrastructure," said Joel Kruger, market strategist at LMAX Group. Notable cryptocurrency investor Pentoshi noted on X that in less than a month, public companies "have bought enough ETH to offset all ETH minted since the Merge," highlighting growing institutional confidence.
Technical analysis:
The $3,000 resistance zone and the $2,750 support zone are emphasized. The strong bullish surge of ETH occurred in three stages: Initial consolidation around $2,824. A breakout through the key resistance zones at $2,845, $2,870, and $2,920.
The final step towards $2,996, where strong resistance is currently being consolidated, according to CoinDesk's analysis model. This model also identifies the support zone between $2,750 and $2,760, providing an important area to monitor if ETH experiences a pullback. Ethereum's momentum is strongest during the 60-minute trading window from 20:58 to 21:57 UTC, when it rises nearly 6% in a single hourly candle. Although ETH is still down more than 40% from its all-time high of $4,800, the combination of ETF inflows, on-chain utility growth, and enterprise demand could continue to drive interest. However, ETH must decisively break through the $3,000 resistance level to signal a sustainable trend reversal.