Ethereum is showing signs of renewed strength as bullish momentum accelerates across major crypto markets. On July 11, ETH surged past the $2,800 level for the first time in weeks, recording a gain of more than 7% in just 24 hours. The move not only suggests a shift in investor sentiment but also points to a potential run toward the $3,000 mark—provided key support levels hold and buying pressure continues.
The recent rally reflects a combination of institutional accumulation, favorable liquidity trends, and relatively weak resistance ahead. According to the latest data from CoinMarketCap and Glassnode, Ethereum’s price action is underpinned by strong inflows into futures and spot investment products, indicating growing confidence from both long-term holders and large players.
One of the most notable indicators of this trend is the surge in open interest (OI) on the Chicago Mercantile Exchange (CME), a platform favored by institutional investors. Based on the 7-day Simple Moving Average (SMA), Ethereum’s OI reached $3.27 billion—its highest level since early February 2025. This signals a substantial increase in exposure to ETH through regulated futures markets and highlights a steady inflow of capital from professional trading desks and funds.
In parallel, spot Ethereum exchange-traded funds (ETFs) are seeing a noticeable uptick in activity. According to CoinGlass data reviewed by AMBCrypto, institutional investors bought approximately $211 million worth of ETH in a single day. This represents the largest one-day acquisition since June 6, when over $240 million flowed into Ethereum markets, indicating the strongest institutional appetite in over a month.
The technical landscape also appears favorable. With the asset currently trading near $2,850, Ethereum is approaching key resistance levels but faces relatively light selling pressure. On-chain data from IntoTheBlock’s “In/Out of the Money Around Price” (IOMAP) model shows only two resistance zones between $3,222 and $4,816, with roughly 3.4 million ETH poised for potential sale in that range. Compared to prior cycles, this is considered low, suggesting that if momentum continues, ETH may have a clear path to reclaiming the $3,000 level and possibly testing higher levels thereafter.
Liquidity in the market also supports a positive outlook. Ethereum recently bounced from support at the 20-day EMA and has gained traction above both the 50-day and 100-day moving averages. This positioning typically indicates the presence of a strong bullish structure, especially when coupled with volume expansion and reduced exchange deposit activity.
Notably, the number of depositing addresses on centralized exchanges has dropped to 23,000, as reported by CryptoQuant. This metric, which tracks the number of unique addresses transferring ETH to exchanges, has been trending downward—a historically bullish sign. Lower exchange deposits often suggest that investors prefer to hold their assets off exchanges, indicating a long-term holding strategy rather than immediate selling intent.
However, while several metrics paint a bullish picture, there are also signs that warrant caution. Specifically, the total ETH reserves on centralized exchanges have risen in the past 24 hours, reaching 18.9 million ETH. A continuous increase in exchange-held ETH could raise the risk of supply-side pressure if sell orders begin to outpace market demand.
That said, the net outflow trend—especially among large holders—has yet to reverse in a meaningful way. Depositing addresses are still decreasing, and most of the buying appears to be strategic and institutionally driven rather than speculative retail behavior. This suggests that the risk of a sudden price drop caused by excess exchange supply remains limited in the near term.
Adding to the positive momentum is the broader shift in Ethereum’s narrative. As discussions around real-world asset tokenization, enterprise adoption, and decentralized finance infrastructure pick up again, Ethereum is increasingly seen not just as a trading asset but as a foundational layer for future digital economies.
Analysts also note that Ethereum has historically lagged behind Bitcoin in the early stages of market rallies, only to catch up or even outperform once investor interest widens beyond BTC. This pattern could be repeating now. While Bitcoin recently hit a new all-time high above $117,000, Ethereum’s latest move may mark the beginning of its breakout phase, especially if market conditions remain favorable.
With macroeconomic uncertainty easing and regulatory clarity improving in regions like the U.S. and EU, the appetite for blue-chip digital assets is strengthening. Ethereum, with its track record, network effect, and growing institutional credibility, stands to benefit significantly.
In summary, Ethereum’s recent climb above $2,800 signals more than just a short-term recovery. It reflects a broader market transition characterized by growing institutional involvement, supportive technical conditions, and increasing liquidity. While rising exchange reserves offer a note of caution, the prevailing sentiment suggests ETH could continue moving toward the $3,000 milestone—possibly with further upside if resistance levels fail to hold.
As always, market participants are advised to monitor trading volumes, on-chain activity, and macro developments, particularly as the crypto market enters what could be its most active phase of the year.
Post Views: 3