Ethereum breaks through the 2,700 dollar mark: Will the price rise to the next level of 3,000 dollars?

Ethereum has risen 8% in the past 24 hours and reached $2,700 for the first time in nearly two weeks. The bullish movement is supported by more people staking their money, more institutions entering the market, and positive technical signs that could lead to a rise to $3,000. According to Beaconcha.in, more than 34.65 million ETH, accounting for about 30% of the total, are currently being staked on the Beacon Chain. The bullish increase here is the highest ever and is due to long-term holders becoming more confident and choosing to earn money from their holdings rather than selling.

Institutional investors are also becoming more active. BlackRock's iShares Ethereum Trust (ETHA) has not seen any outflows for 23 consecutive trading days. The company has also added 500 million dollars to Ether, bringing the total holdings to 1.5 million Ether worth 2.71 billion dollars. Meanwhile, Ethereum-based ETFs continue to receive investments, as they brought in 296 million dollars last week. The technical chart also shows that the market is rising. Ethereum has surpassed the middle line of the Gaussian Channel and a bullish divergence is forming, which is a sign following the major bull runs in 2020 and 2023. If the current trend continues, analysts expect the price to rise to $3,100–$3,600. Despite this, $2,700–$2,800 is a crucial threshold that Ethereum needs to cross. If a major breakout occurs, it could cause a bullish rally in the altcoin sector. If ETH is unable to sustain this level, it could drop to the $2,400–$2,500 support zone again. The price of Ethereum is still lower than before, making it attractive to short-term traders and buy-and-hold investors. A solid foundation and more confidence in the market may be preparing ETH for another major shift in the cryptocurrency world.