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Ethereum has experienced a remarkable increase of over 70% since mid-June, representing one of its most significant surges this year. This upward trajectory is fueled by strong momentum, with bullish investors regaining control as ETH recently surpassed the crucial $3,500 mark. The rally has maintained its momentum with minimal pullbacks since the breakout, demonstrating sustained investor interest and confidence.
A notable factor behind this uptrend is the recent data from CryptoQuant, which reveals a substantial premium on Ethereum transactions through Coinbase. This is significant due to Coinbase’s popularity among U.S. institutions and affluent individuals. The premium suggests robust spot buying by large investors, indicating renewed institutional enthusiasm for Ethereum.
This heightened demand coincides with clearer regulatory signals in the broader crypto market and increasing ETF inflows into Ethereum-related products. As Ethereum continues to perform strongly and attract capital, traders are keen to see if this momentum will lead to a broader altcoin surge or potentially herald the start of a long-anticipated altseason.
U.S.-Based Investors Propel Ethereum Buying Surge
According to a recent analysis by CryptoQuant’s Crypto Dan, there is a marked increase in Ethereum purchases, especially by U.S.-based large investors. The consistent accumulation and the evident premium on Coinbase imply that high-net-worth individuals are positioning themselves for further market gains.
Supporting this trend, daily inflows into Ethereum spot ETFs have reached unprecedented levels. This sharp increase reflects growing institutional trust in ETH as a fundamental digital asset, particularly following recent regulatory developments in the U.S. With Ethereum now trading over $3,600, demand continues to exceed supply across various channels.
This rally is particularly intriguing given the current market conditions. On-chain data suggests that Ethereum is not yet significantly overbought. Metrics like NUPL (Net Unrealized Profit/Loss) indicate there is potential for further growth before market exuberance becomes excessive. This sets a favorable stage for ETH to stabilize at higher levels before potentially making another breakout.
However, the upcoming weeks will be critical. If the strong inflows and bullish momentum persist into late Q3 2025, analysts caution it could signal overheating. While the market has not reached that point yet, repeated upward movements without corrections should prompt investor caution. Reassessing risk levels may be necessary if the current pattern continues.
Ethereum Surpasses Key Resistance with Strong Weekly Performance
Ethereum is currently valued at $3,620, with two days remaining before the weekly candle closure, marking a more than 21% increase so far. This ongoing rally has decisively pushed ETH above the $2,852 resistance level—a pivotal zone that restricted price action for months.
This movement is accompanied by high trading volume and follows a breakout above the 50-, 100-, and 200-week moving averages, now serving as support at $2,654, $2,664, and $2,430, respectively. With momentum building and buyers firmly in control, market focus is shifting towards the next significant resistance at $3,742, identified by the weekly wick high from December 2024.
Though the weekly candle has yet to close, its current size and shape underscore growing bullish momentum. This surge builds on Ethereum’s 70% rally since mid-June, indicating that an expansion phase could be unfolding.
If ETH maintains or exceeds current levels by Sunday, it would confirm one of its strongest weekly performances this year and potentially spur further growth. Until then, traders are closely monitoring to determine whether this breakout can sustain its momentum or if a short-term correction is imminent after such a robust move.
