Will multiple positive factors break through the key resistance as ETH surpasses $3300?

ETH today reports $3,267.57, up 1.59% over 24 hours. The seemingly modest increase actually reflects a shift in market sentiment. Institutions are taking action, applications are expanding, and staking yields are attracting funds—all quietly driving ETH upward. The key question is whether it can break through the critical resistance level of $3,300.

Four Major Drivers of Short-Term Rebound

According to the latest news, ETH’s recent rebound is not an isolated event but the result of multiple factors working together.

Change in Institutional Sentiment

Fidelity has seen multiple large ETH transfers in the past 24 hours, totaling over 125,000 ETH, worth about $400 million. Such large transfers often indicate institutional investors adjusting their positions. Meanwhile, a whale with an open position worth $230 million has successfully recovered from an unrealized loss of $74 million to an unrealized profit of $26.82 million following the recent market rebound, with rebound gains exceeding $100 million. This suggests that large long positions are turning profitable, providing support for the price.

Expansion of Application Scenarios

Walmart has launched Bitcoin and Ethereum trading services through its OnePay app, enabling millions of shoppers to exchange cryptocurrencies for daily retail purchases. This marks mainstream retailers beginning to adopt ETH, helping to expand use cases and user base.

Prosperity of the Staking Ecosystem

SharpLink earned 438 ETH in staking rewards last week, with a total staking reward of 10,657 ETH, equivalent to approximately $1.4 million at current prices. The institution maintains 100% asset allocation in ETH and keeps full staking status, reflecting a steady long-term allocation demand based on staking yields.

Market Sentiment Recovery

7-day increase of 9.68%, 30-day increase of 4.99%, indicating that the recent rebound is sustainable rather than a short-term bounce. 24-hour trading volume reached $27.599 billion, with a market cap increase of $6.183 billion, showing ongoing capital inflows.

Breakthrough of Key Resistance Level Imminent

Market analysis indicates ETH is approaching the resistance zone of $3,200–$3,400. This is a historically high trading density area with considerable selling pressure, requiring close attention.

Current Trend Assessment

ETH reached a high of $3,303.56 today, nearing the critical $3,300 level. This suggests the market is testing this resistance. If it can break through and stabilize above this zone, the price could continue upward, with targets possibly reaching $3,800–$4,000. However, if it faces resistance in this range, a retest of the $3,000 support level cannot be ruled out.

Noteworthy Points

Fund flow shows interesting dynamics. Over the past year, nearly $9 billion in assets have flowed into Solana via cross-chain bridges, with over $5 billion coming directly from the Ethereum ecosystem. This reflects reallocation of funds across different blockchains, but also indicates that despite some outflow, the Ethereum ecosystem’s application and staking demand continue to support the price.

Future Focus

Whether ETH can break through the $3,300 resistance is the next key point. Success would open the path toward $3,800–$4,000. This requires sustained capital support and continued expansion of application scenarios. Additionally, the attractiveness of competing chains like Solana also warrants attention, as it could influence ETH’s medium-term performance.

Summary

The 1.59% increase today is driven by multiple factors: institutional profit-taking, application expansion, and staking prosperity. ETH is currently in a critical zone of $3,200–$3,400, a historically heavy sell area. Whether it can break through will determine subsequent trends. From a fundamental perspective, expanding use cases, attractive staking yields, and improving institutional sentiment lay a foundation for a breakout. However, the flow of funds to competing chains also highlights the need to monitor ecosystem competitiveness. The next few days are crucial, with $3,300 serving as a watershed.