Ethereum Price Surges Toward $3,000 as Developers Prepare for Post-Quantum Future

Ethereum price has surged by about 30% in one week, bringing it to around $2,500-$2,510. This recent rally has put the next major target closer to $3,000.

The move has also come with stronger buying from the market, including spot Ethereum ETF inflows of $697 million last week and continued accumulation by institutional investors.

A technical analysis by Morecryptoonl suggests that ETH is following Bitcoin toward a possible direct breakout. The analysis shows impulse waves, Fibonacci retracement levels, and higher price targets on both daily and short-term charts.

However, the market is close to overbought territory according to the Ethereum crypto daily RSI, which could lead to some short-term consolidation before another attempt at higher levels.

Ethereum developers are also working on a longer-term change to the network. They have proposed a post-quantum-ready deposit contract designed to help the network move away from its current reliance on BLS deposits.