Ethereum Market Update
Ethereum is holding strong at $3,106, up 4.58% in the last 24 hours and gaining steady momentum. Whale wallets continue to pull large amounts of ETH off exchanges, showing strong long-term confidence. BlackRock’s filing for a staked ETH ETF has also boosted sentiment across the market.
On the charts, ETH shows short-term bullish strength with the 7-hour EMA above the 25-hour EMA. However, the MACD is losing momentum and the RSI sits at a neutral 54, suggesting some cooling. Strong support remains around $2,950–$3,050, while a clean move above $3,200 could open the path toward the $3,400–$3,500 zone.
Market-wide, ETH has gained 11% this week, backed by rising network activity and record accumulation over 30M ETH now sits in wallets that aren’t selling. With big exchange withdrawals and the expected Fusaka upgrade promising major scalability boosts, sentiment stays positive.
