Ethereum is soaring as institutional and retail demand align, driven by U.S. regulatory progress. This week, ETH rallied past $3,400 after spot Ethereum ETFs recorded their highest-ever single-day inflows of $726.6 million, signaling strong traditional finance interest. Open interest has also surged to a record $46 billion, according to Coinglass, amplifying volatility and pushing ETH’s weekly gains over 20%.
Fueling the rally is the advancement of key U.S. crypto legislation—the CLARITY Act, GENIUS Act, and Anti-CBDC Surveillance State Act—all contributing to growing confidence in Ethereum’s long-term outlook.
Technical charts show ETH breaking out from an ascending broadening wedge, with a target of $3,750 if resistance at $3,480 breaks. Indicators like RSI and MACD remain bullish, although the 0.786 Fibonacci level at $3,190 could act as a pullback zone.
At the same time, HODLers are moving ETH off exchanges into self-custody wallets like MetaMask, Exodus, and Best Wallet ($BEST). The latter is gaining attention for its innovative “Upcoming Tokens” discovery tool.
With strong fundamentals and technicals aligning, Ethereum’s breakout could extend toward $3,750 and even retest all-time highs if bullish momentum continues.
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