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Ethereum price climbs steadily. It outpaces its largest rival this week. It gains 12% over the last seven sessions.
Amid the crypto market recovery, the Ethereum price has surged from the lows of $1,800 all the way to $2,300. Analysts expect the rally to continue to $3,000 while institutional interest returns with inflows in spot Ether ETFs.
Ethereum Price Rally Can Continue Up to $3,000
Crypto analyst Crypto Patel said Ethereum has rebounded strongly after holding a key support zone near $1,800. He previously identified those levels as a potential market bottom.
According to the analyst, ETH has gained approximately 28% from the $1,800–$1,900 accumulation range. Moreover, the Ethereum price has also surged past the $2,150 bearish flag resistance and reclaimed the $2,300 level. This signals improving momentum.
Looking ahead, Patel highlighted a fair value gap (FVG) between $2,474 and $2,734 as the next key zone. He believes that a sustained move above $2,634 could open the path toward $3,000.
Another crypto analyst, CrediBULL Crypto, also shared similar views regarding the Ethereum price move. The analyst said ETH is showing early signs of strength. The token rebounded from higher-timeframe (HTF) range lows against the U.S. dollar.
CrediBULL noted that the ETH/BTC trading pair is attempting to reclaim a key local range. This move could further lead to Ethereum’s 20% to 50% outperformance versus Bitcoin in the near term.
CrediBULL added that the Ethereum price could continue outperforming Bitcoin until it reaches the $2,800–$3,000 range. While calling the current market structure strong, the analyst said that any short-term pullbacks may present buying opportunities.
Tom Lee Continues With Ethereum Accumulation
Despite the recent turbulence and volatility, Tom Lee’s investment firm Bitmine Technologies has continued with Ethereum accumulation.
The firm purchased an additional 60,999 ETH, valued at approximately $140.3 million. This brings its total holdings to 4,595,562 ETH, worth about $10.57 billion.
Moreover, Bitmine also acquired 5,000 ETH directly from the Ethereum Foundation. The company currently controls about 3.81% of the total Ethereum supply.
From these holdings, Bitmine has staked 3,040,515 ETH, worth $6.6 billion. As a result, the firm generates an annual staking revenue of $262 million.
Ether ETF Inflows Surge Amid Ethereum Price Rally
Amid this strong Ethereum price recovery from $1,800 to $2,300, institutional inflows have surged again.
Spot Ether ETFs in the US have seen five consecutive days of inflows, for the first time after several weeks. The last time these ETFs saw such inflows, the Ethereum price jumped from $2,500 to $4,000.
During Monday, March 16 trading session, the net inflows across all Ether ETFs were $35.6 million. The BlackRock iShares Ethereum Trust (ETHA) saw outflows of $16.2 million.
Similarly, Grayscale’s ETHE saw $15.2 million of outflows. On the other hand, BlackRock’s staking Ether ETF (ETHB) saw $32.4 million in flows. Furthermore, Fidelity’s FETH saw $34.9 million in inflows.
