#ETHBreaks3700 $ETH

📈 Ethereum this week: real rise or just a breather?

Well, well… if you were looking at the ETH chart this week, you surely noticed that things got interesting. Ethereum was coming from a somewhat boring consolidation zone, but in the last few days it shook off the dust and went on a rally that left more than one with a look of “what now?”

🔥 What happened this week?

ETH started the week near $2,600 and ended up breaking $3,500, with a peak that touched $3,672.

That represents a jump of more than 40% in less than 7 days. Not bad for a crypto that many thought was “asleep.”

The reason? A mix of institutional accumulation, massive inflows to Ethereum ETFs, and large withdrawals from exchanges (👀 whales in motion).

💰 Current price

At the time of writing this, ETH is trading around $3,545.

The 24-hour trading volume exceeds $24 billion, indicating that there is quite a bit of action in the market.

The market capitalization is above $428 billion, consolidating its position as the second largest crypto.

🔮 What now?

There are two narratives at play:

Bullish: If institutional momentum continues and the ETFs keep up the pace, we could see ETH aiming for $4,000 in the short term. Some analysts even dare to project $10,000 in the medium term.

Bearish: If the hype cools off and traders start taking profits, we could see a correction towards $3,200-$3,000 before resuming the upward path.

🧠 What to watch?

RSI is close to the overbought zone, so watch out for pullbacks.

Open interest in futures is at historical highs, which could bring volatility.

In summary: Ethereum got its act together this week and is showing signs of life that excite. But as always in crypto, one must keep a cool head and not get carried away by just the excitement.