Ethereum regains momentum

As the market gradually recovers from the fluctuations of the first half of the year, the price trend of ETH is also attracting more and more attention. Driven by multiple favorable factors, the market is beginning to predict whether ETH can break through and hold above the $3,000 mark, and even open up a broader upward space.

Pectra Upgrade Roadmap

One of the most representative technological breakthroughs of Ethereum recently is the much-anticipated Pectra upgrade, which significantly improves the scalability and cost efficiency of the Ethereum mainnet, seen by developers as a turning point for long-standing obstacles. Vitalik Buterin recently stated at ETHGlobal that the Layer 1 upgrade plan will enable Ethereum to achieve a tenfold increase in transaction processing capacity within a year, which will have a structurally positive impact on network usage, application development, and capital inflow.

Institutional funds flowing into ETH spot ETF

In addition to the technical boost, the capital flow also shows a bullish attitude at the institutional level. According to data published by Glassnode, the U.S. ETH spot ETF has seen continuous net inflows over the past eight weeks, with the latest week seeing an inflow of over 61,000 ETH, equivalent to approximately 157 million dollars.

(Source: glassnode)

This type of ETF product mainly attracts traditional investors who are not familiar with on-chain operations. The stable inflow of funds into the ETF represents that these institutions still have a positive outlook on the future price potential and market position of ETH. Santiment’s analysis also mentioned that Bitcoin spot ETFs are also in a stage of steady growth, indicating that the overall market’s risk appetite is recovering.

The breakout signal for ETH is gradually emerging.

Despite the recent consolidation of the ETH price, which has now broken through its range, the technical chart and market sentiment suggest that the previous sideways movement could be a period of accumulation before a major rise. If the market continues to release positive news, such as a clearer regulatory environment, an increase in ETH ETF trading volume, or a rebound in ETH network activity, then $3,000 will no longer just be a technical barrier, but could more likely become the starting point of a new upward trend.

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Summary

Based on the comprehensive technical upgrades, capital flows, and market sentiment, the long-term structure of ETH is further strengthening. For investors who are currently on the sidelines, if ETH successfully holds above the 3,000 USD mark, it may trigger a dual breakthrough in both technical and psychological aspects, opening up a new wave of challenges towards 3,500 and even 4,000 USD.