Ethereum is trading near a critical support zone as bulls aim for the $3,000 level, but a clear breakout remains uncertain.
ETF inflows of $700 million into ETH-based ETFs in the U.S. have reinforced the $2,500 support zone, limiting downside pressure in the short term.
Despite bullish technical patterns such as cup and handle and a golden cross, Ethereum struggles to reclaim $2,700 amid rising competition from Solana and BNB in the DEX market.
Large ETH transfers and speculation about market volatility persist amidst ETF inflows, as Ethereum faces challenges in maintaining its market position against other blockchains.