Ethereum price quickly regained the $3,000 level on strong network data and increased institutional interest. The rise seen in Asian markets on Wednesday morning enabled most of last week’s losses to be compensated. Analysts point out that the move goes beyond a technical recovery and is supported by on-chain indicators. The focus of the market is now on the next resistance area located at $3,100.
Rapid Recovery in Ethereum Price and Technical Outlook
Ethereum rose above the psychological $3,000 threshold, rising 2.6 percent to $3,028 in Asian trading on Wednesday. Ether regained strength after remaining below that level for just six days, improving the short-term technical outlook. MN Fund founder and cryptocurrency commentator Michaël van de Poppe described the recovery as a “rapid comeback” and emphasized that almost all of last week’s losses against Bitcoin have been compensated.
According to Van de Poppe, the price holding on to a critical support area indicates that the rise may continue. On the technical analysis front, the next focus is on the resistance area around $3,100. If this area is exceeded, market perception is expected to turn more clearly positive.
On-chain data also accompanies the price movement. Glassnode analyst Chris Beamish noted that Ether is trading on a dense set of cost bases and is at breakeven for many investors. According to Beamish, maintaining current levels indicates a process of absorption and base formation, while a possible breakout may bring the risk of movement towards weaker support areas.
Network Data, Staking Demand and Institutional Interest
Fundamental indicators on the Ethereum network provide a strong picture supporting the recovery in prices. According to Santiment data, the number of “non-empty wallets” on the network exceeded 175 million, reaching a record level among all cryptocurrencies. The fact that the interest in staking remains high even in horizontal markets contributes to the gradual decrease in the supply on the exchanges.
A similar picture draws attention on the Validator side. Charles Allen, CEO of Blockchain Technology Consensus Solutions, stated that demand in the Ethereum validator network remains strong. Stating that staking withdrawals have decreased to approximately one day of waiting time in the last month, while the deposit queue has increased to over 54 days, Allen underlined that the number of people who want to join the network is much higher than those who want to leave. This balance is considered to give a positive signal in terms of network security and validator participation.
There are also remarkable developments on the corporate side. According to Bitwise data, in the last quarter, companies purchased more than 1 million Ether in total and invested approximately 3.5 billion dollars. While the number of Ether holders among public companies increased by 40 percent, the share of Ether-focused companies in the total supply reached 5 percent. Although Bitwise analysts humorously interpreted the table in question as “probably nothing”, the figures reveal that institutional interest is gaining momentum.
