Ethereum’s Wall Street moment: Why ETH traders are clued into $2.8K
The post Ethereum’s Wall Street moment: Why ETH traders are clued into $2.8K appeared on BitcoinEthereumNews.com. Key Takeaways Ethereum’s rally over the past week saw prices rapidly climb past the $2.8k resistance, a problematic area since February. Investors have good reason to continue to HODL. Ethereum [ETH] was projected to have a bullish Q3 2025. The ETH/BTC was also recovering, a sign that the leading altcoin was gaining strength against Bitcoin [BTC]. Ethereum experienced nine consecutive weeks of positive spot ETF inflows, solidifying its status as a Wall Street darling. Ethereum was not thought to be like a tech stock, but rather an asset that fuels DeFi and can earn dividends through staking. The increased demand for Ethereum among institutions and retail boosted its prices. The psychological $3,000 level continued to pose a sizeable barrier. BTC in price discovery meant that ETH would soon follow it higher. Ethereum traders, mind the gap Source: ETH/USDT on TradingView The weekly chart showed Ethereum blasting past a bearish order block (cyan) at the $2.8k mark. This signified intense bullishness and showcased buyer eagerness. It also meant that swing traders might have to wait for a retest of the $2.8k region as support before entering long positions. The weekly surge has left a gap to the south that might need to be filled before the next rally. Will short-term bulls need to reload? Source: ETH/USDT on TradingView The 12-hour chart also showed that Ethereum did not trade at the $2.8k resistance zone for long during the rally in July. This reinforced the chance of a minor dip in this demand zone before the next rally. The RSI was at 77, showing strong bullish momentum. A bearish divergence could develop over the next few days, which would be a warning for traders. The CMF was at +0.23. Values above +0.05 indicate sizeable capital inflow to the market and signify that buying…
The post Ethereum’s Wall Street moment: Why ETH traders are clued into $2.8K appeared on BitcoinEthereumNews.com.
Key Takeaways Ethereum’s rally over the past week saw prices rapidly climb past the $2.8k resistance, a problematic area since February. Investors have good reason to continue to HODL. Ethereum [ETH] was projected to have a bullish Q3 2025. The ETH/BTC was also recovering, a sign that the leading altcoin was gaining strength against Bitcoin [BTC]. Ethereum experienced nine consecutive weeks of positive spot ETF inflows, solidifying its status as a Wall Street darling. Ethereum was not thought to be like a tech stock, but rather an asset that fuels DeFi and can earn dividends through staking. The increased demand for Ethereum among institutions and retail boosted its prices. The psychological $3,000 level continued to pose a sizeable barrier. BTC in price discovery meant that ETH would soon follow it higher. Ethereum traders, mind the gap Source: ETH/USDT on TradingView The weekly chart showed Ethereum blasting past a bearish order block (cyan) at the $2.8k mark. This signified intense bullishness and showcased buyer eagerness. It also meant that swing traders might have to wait for a retest of the $2.8k region as support before entering long positions. The weekly surge has left a gap to the south that might need to be filled before the next rally. Will short-term bulls need to reload? Source: ETH/USDT on TradingView The 12-hour chart also showed that Ethereum did not trade at the $2.8k resistance zone for long during the rally in July. This reinforced the chance of a minor dip in this demand zone before the next rally. The RSI was at 77, showing strong bullish momentum. A bearish divergence could develop over the next few days, which would be a warning for traders. The CMF was at +0.23. Values above +0.05 indicate sizeable capital inflow to the market and signify that buying…
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