Ethereum has surged above the $3,000 level, marking its highest price since late January and indicating a strong resurgence in momentum. This breakout comes as Bitcoin continues to hit new all-time highs, injecting fresh optimism into the overall crypto market. The upcoming week is poised to be pivotal, as “Crypto Week” in the US Congress will see lawmakers debating and potentially voting on crucial legislation that will shape the future of digital assets.
Amid this bullish backdrop, on-chain fundamentals for Ethereum are strengthening. Renowned analyst Ted Pillows has shared data revealing that the supply of ETH staked has reached a new all-time high. This milestone underscores the increasing confidence in Ethereum’s long-term potential, with more investors choosing to lock up their assets to help secure the network and earn yields, rather than selling during periods of strength.
The recent price surge and heightened staking activity point towards a shift in sentiment as Ethereum reaffirms its position as a core asset in both institutional and retail portfolios. With macroeconomic factors and regulatory developments aligning this week, Ethereum could be on the brink of a significant breakout, particularly if legislative clarity and Bitcoin’s momentum continue to drive capital towards high-conviction assets like Ethereum.
### Ethereum Leads Altcoin Revival: Strong Fundamentals And Technical Momentum
Ethereum is leading a resurgence in the broader altcoin market, showing renewed bullish strength after a prolonged consolidation period. Breaking above the crucial $3,000 mark, ETH has established a new bullish structure, signaling the potential start of a macro uptrend. This recent price action has invigorated sentiment across the market, with many altcoins beginning to follow Ethereum’s upward trajectory.
From a fundamental perspective, Ethereum remains one of the strongest assets in the cryptocurrency space. Data from Ted Pillows indicates that the percentage of ETH supply staked has hit a new record high of 29.44%. This metric is significant as it reflects growing long-term conviction from major holders and institutional investors. Staked ETH is essentially locked up and cannot be sold, indicating that investors anticipate higher prices and are committed to holding through market volatility.
All eyes are now on the key resistance zone between $3,500 and $3,600. A decisive breakthrough above this area could trigger a broader rally across the altcoin market, driven by increased capital rotation and technical momentum. Many traders are closely monitoring this level as a potential catalyst for a significant altcoin surge, supported by growing capital inflows and positive technical signals.
### Ethereum Reclaims $3,000 With Bullish Breakout Above Key Resistance
Ethereum (ETH) has exhibited strong bullish momentum on the 3-day chart, currently trading at $3,071 after decisively surpassing the $2,850 resistance level. This breakout confirms a shift in trend structure following months of consolidation between $2,200 and $2,800. The recent surge has propelled ETH to its highest level since late January, setting the stage for a potential push towards the next major resistance at $3,500–$3,600.
Technical analysis reveals a bullish crossover as ETH trades above its 50-day, 100-day, and 200-day simple moving averages (SMAs) at $2,241, $2,658, and $2,801, respectively. This alignment signals increasing buyer control and reinforces the strength of the uptrend. The breakout was supported by a surge in trading volume, further validating the bullish move.
With this newfound momentum, Ethereum has formed a higher high on the macro timeframe, indicating the potential initiation of a broader trend reversal. Sustaining a position above $2,850 and maintaining upward pressure could lead to a swift upward movement, especially as Bitcoin sets new all-time highs and regulatory developments unfold during “Crypto Week” in the US Congress.
In conclusion, Ethereum’s recent breakout above $3,000, accompanied by strengthening on-chain fundamentals and technical momentum, positions the cryptocurrency for further upside potential. As the market awaits key legislative decisions and Bitcoin’s continued rally, Ethereum remains a focal point for investors seeking exposure to high-conviction assets in the evolving crypto landscape.