UPDATE: Ethereum (ETH) is making waves today as it approaches the critical $3,100 resistance level, marking its potential first weekly gain since October. As of now, Ethereum’s price is at $3,050 following a surge in buying activity, indicating a shift in market sentiment.
Investor behavior is shifting rapidly, with a significant increase in withdrawals from exchanges. Just today, 180,000 ETH was withdrawn, indicating a growing trend among investors to hold assets in private wallets rather than on exchanges. This is the highest net outflow seen in over a month, underscoring a bullish outlook as Ethereum shows signs of recovery.
Institutional investors are also joining the buying frenzy. According to SoSoValue data, Ethereum exchange-traded funds have recorded $292 million in net inflows over the past four days, marking a significant turnaround after an eight-day outflow streak. This renewed interest from institutions signals confidence in Ethereum’s long-term potential.
Further bolstering the positive sentiment, active addresses on the Ethereum network spiked to over 601,000 on Thursday, the highest level recorded in 2025. This increase suggests that more investors are returning to decentralized finance (DeFi) protocols and on-chain activities, further igniting optimism in the market.
On the derivatives side, Ethereum futures open interest has remained stable, hovering around 12.1 million ETH. The trend shows a notable shift, with short positions being liquidated at a higher rate than long positions, suggesting a potential exhaustion among bearish traders. This is a critical development that could pave the way for further price increases.
In technical analysis, Ethereum is currently testing the $3,100 resistance level after successfully reclaiming the $2,850 support. Analysts suggest that if ETH can sustain momentum above this resistance, it could target the $3,470 level next. The Relative Strength Index (RSI) has stabilized, indicating a potential pause in the recent bearish trend, while the Stochastic Oscillator is on the verge of moving out of oversold territory.
As market conditions evolve, all eyes are on Ethereum’s performance in the coming days. A successful breach of the $3,100 barrier could signal a new bullish phase for the cryptocurrency. Investors and analysts alike are keenly watching for any developments that could impact Ethereum’s trajectory.
In summary, Ethereum is experiencing a transformative moment, with significant withdrawals, institutional investments, and rising on-chain activity pointing to a potential recovery. The next few days will be crucial as ETH seeks to break through key resistance levels and establish a bullish trend. Stay tuned for more updates as this story develops!
