With both price action and investor trust rising, Ethereum is currently at the forefront of market rates. ETH has surged towards $3,800 after surpassing the psychological $3,200 barrier, but this correction is not a sign of weakness. Certainly, it is evidence of how robust Ethereum trends have grown.
Technical analysis of ETH charts reveals classic bullish patterns. The mid-July breakout, following weeks of consolidation and low volatility from April to early June, launched an explosive rally. The current decline appears to be a healthy retest following a long-term meeting rather than a reversal. With the 200 EMA finally getting bullish and the 50 EMA rising sharply, prices still far outweigh all of the major moving averages. This strength is supported by the volume.
The consistent buy-side volume spikes on breakout candles indicate that this movement is supported by strong beliefs. Although it is still high, RSI is beginning to decline, allowing the asset ward to rise even further. The relative performance of ETH related to the larger market is what sets it apart. Solana is approaching a critical resistance and Bitcoin remains trapped in range, while Ethereum continues to hit new highs. This is particularly noteworthy as there is no immediate macro or adjustable pressure on the ETH.
This is pure technical momentum and accumulation on the chain without ETF drama. That being said, it seems that smart money is accumulating. As mentioned before, bullish signs of long-term trust are the recent withdrawal of hundreds of millions of ETH from centralized exchanges and transfers to new wallets. The Ethereum appears to be in a good position to line up at this point.
If it exceeds $3,500 in the next few days, there will be little resistance until it reaches $4,000 or more. This rally is driven not by the hype but by the amount of structure and actual capital movements. In summary, Ethereum has been at its highest level in months and does not appear to be slowing down.
