Ethereum Traders Eye $3,000 as ETF Inflows Fuel Bullish Case

Ethereum traders are still targeting $3,000 after the recent rejection at $2,800. The setup for this target is supported by six straight days of net inflows into US spot ETH ETFs, totaling $834 million. This influx of funds has helped Ethereum stay above its 50/100/200-day exponential moving averages (EMAs), which sit between approximately $2,260 and $2,430.

On-chain indicators are also pointing to a bullish case, with the seven-day and 30-day volume averages having touched for the first time since November 2025. This has been seen as an early sign of a potential rally before. The 365-day market-value-to-realized-value (MVRV) ratio is also above zero, which has preceded earlier moves to $4,000 or higher.

However, there are some cautionary signs. The moving average convergence divergence indicator (MACD) has turned marginally negative, and Ethereum's recent rally was fueled by a single event - massive inflows into US spot ETH ETFs. If these inflows cannot be sustained, it could lead to a reversal.