Ethereum Surges Above $3,800 as Institutions and ETFs Drive Bullish Momentum

Ethereum (ETH) has soared nearly 6% in the past 24 hours, briefly breaking above the $3,800 mark and outperforming the broader CoinDesk 20 Index. This surge is fueled by growing institutional interest and record inflows into U.S.-listed spot ether ETFs, which saw $2.18 billion in capital last week alone.

The rally comes as Wall Street increases its focus on ETH, with several major treasury firms reportedly allocating funds to the asset. Analysts believe this is part of a broader shift, especially following favorable crypto legislation passed recently in the U.S.—a week that some dubbed “crypto week.”

On-chain data adds further weight to bullish sentiment. According to blockchain analytics firm EmberCN, a major Ethereum whale accumulated $50 million worth of ETH over the weekend at an average price of $3,714, signaling strong confidence in continued upside.

ETH traded in a range between $3,534 and $3,790 over the past day, reflecting 7.22% intraday volatility. Key resistance has formed between $3,760 and $3,790, with heavy trading consolidating around this zone. Support has emerged in the $3,590–$3,610 range, where buying volume exceeded the daily average of 215,000 transactions, suggesting growing institutional demand.

Technical indicators also point to sustained bullish momentum, with a pattern of higher lows indicating ongoing accumulation. Fundstrat’s Tom Lee recently projected a long-term price target of $15,000 for ETH, citing macro and on-chain metrics.

With strong ETF inflows, whale activity, and institutional buying converging, Ethereum appears well-positioned for a continued rally beyond current resistance levels, reaffirming its growing role in both retail and institutional portfolios.