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Ethereum Breaks 3-Month High as Blackrock ETH Accumulation Spikes- $3k Next?
- Ethereum price surged to $2,776, breaking a three-month resistance level with strong institutional buying, notably by BlackRock.
- Spot Ethereum ETFs accumulated 97,800 ETH in the last month, with total holdings at 3.77 million ETH and BlackRock's Ethereum ETF managing over $3.87 billion in ETH assets.
- Ethereum's price is supported by technical indicators like staying above the 200-period EMA, showing signs of new momentum and high-volume buy orders.
- A bullish divergence between the price and RSI suggests a potential continuation of the upward trend in Ethereum's price.
- Trading volume of ETH surged by 25.90% to $33.47 billion with open interest in Ethereum futures hitting a new all-time high of $41.43 billion, signaling bullish sentiment among derivatives traders.
- Ethereum price regained the Gaussian channel average, historically leading to significant rallies, raising hopes of reaching $3,100-$3,600.
- Ether ETPs received $296 million in net inflows last week, with Ethereum now representing over 10.5% of total crypto ETPs assets under management.
- The recent Pectra upgrade in May 2025 and increased staking thresholds have further fueled bullish sentiment around Ethereum.
- Over 2 million ETH was bought in the $2,700-$2,760 range, forming a potential strong support level for Ethereum.
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