Market Overview
Ethereum has surpassed the critical resistance of $3,000, trading at $3,096 with strong momentum. Historical data shows previous unsuccessful attempts at this level in June 2025, making this breakout significant. On-chain metrics indicate accumulation patterns among mid-sized investors, while open interest in futures reached $12.8B See chart.
Key Catalysts
• BlackRock's ETH ETF attracted inflows of $386M in a single day
• Standard Chartered and Grayscale expanded institutional access
• Layer 2 solutions reduced gas fees by 82%
• SEC decision postponed, but expected before the third quarter of 2025
• The CLARITY and GENIUS bills are advancing in Congress
Trading Implications
Critical support established at $2,950-$3,000 with RSI at 78 (overbought). Watch for resistance at $3,080 and potential volatility due to $1.26B in recent liquidations. A short position of 20,474 ETH with 18x leverage represents a correction risk. Price projections suggest $5,000-$10,000 by year-end, depending on the success of the Pectra upgrade.