Ethereum Eyes $3,000 Target Despite Recent Pullback

Ethereum's price has stalled at $2,800 after reaching that level and pulling back, but traders are still eyeing a possible move to $3,000.

The recent rally was fueled by massive inflows into US spot Ethereum ETFs, which recorded six consecutive days of net inflows totaling $834 million.

On-chain indicators, including trading-volume averages and the 365-day market-value-to-realized-value (MVRV) ratio, are also showing bullish signals that could precede a stronger rally.