Ethereum Eyes $3K Amid Strong Bullish Momentum Despite Minor Pullback

Ethereum (ETH) continues to showcase impressive bullish momentum after a staggering 58% monthly rally, with its sights now set on the $3,000 resistance level. Despite a slight pullback from its recent peak of $2,736, ETH remains resilient, trading firmly around $2,529, backed by robust trading volume exceeding $25 billion. The cryptocurrency has maintained a 17% weekly gain, underscoring its strength even amid broader market corrections. As of the latest data, ETH is priced at 2602.65000000 USDT, signaling strong investor confidence and potential for further upside.

Ethereum Holds Strong After 58% Monthly Rally, Eyes $3K Despite Pullback

Ethereum’s bullish momentum remains intact following a 58% surge over the past month, with the cryptocurrency now eyeing the $3,000 resistance level. Despite a minor pullback from its recent peak of $2,736, ETH continues to trade firmly around $2,529, supported by robust trading volume exceeding $25 billion.

The asset has demonstrated remarkable resilience, maintaining a 17% weekly gain even amid broader market corrections. Market participants are closely watching the $2,233 support level, which could determine whether ETH gathers sufficient momentum for another push toward $3,100.

Tornado Cash Co-Founder Faces DOJ Charges in Landmark Crypto Case

The U.S. Department of Justice has escalated its crackdown on cryptocurrency privacy tools, filing criminal charges against Tornado Cash co-founder Roman Storm. The indictment alleges conspiracy to commit money laundering, sanctions evasion, and operation of an unlicensed money transmitter through the Ethereum-based mixing service.

Prosecutors dropped one count of unlicensed money transmission, signaling a more targeted approach to crypto regulation. The case represents a strategic shift in enforcement, focusing on individual accountability rather than blanket platform liability. Storm will face trial in Manhattan within two months.

The charges highlight growing regulatory scrutiny of privacy-focused crypto tools. Tornado Cash, which operates on the ethereum blockchain, has drawn particular attention from authorities seeking to trace illicit financial flows in decentralized finance ecosystems.

Ethereum’s Resurgence: AI, Staking, and ETF Dynamics Fuel $5K Speculation

Ethereum’s price surged 43.6% in a week, breaching $2,600 as traders reignited discussions of a potential return to the $5,000 threshold. This rally appears more than speculative—technical fundamentals and accelerating adoption suggest the beginning of a sustained bullish phase.

Institutional interest tells a different story. U.S. ETH ETFs saw $4 million in outflows despite the price surge, revealing lingering hesitation among traditional investors. Meanwhile, the Pectra upgrade delivered tangible scalability improvements, further solidifying Ethereum’s infrastructure advantage.

Ether’s Rally Fueled by Short Covering Rather Than Bullish Conviction

Ether’s recent price surge appears driven more by technical factors than fundamental optimism. Market analysts attribute the move primarily to short covering—the unwinding of bearish bets—rather than fresh institutional demand or Leveraged long positions.

"This isn’t the hallmark of a sustained bull run," said sui Chung of CF Benchmarks, noting the muted activity in CME’s institutional-focused derivatives. The futures market’s tepid premium suggests professional traders remain cautious despite ETH’s upward momentum.

Short covering creates artificial demand as bears repurchase contracts, potentially distorting true market sentiment. The phenomenon often precedes volatility as positions reset.