Ether Reclaims $3,000 as Trading Volume Doubles

Ethereum (ETH) has begun the week positively, recovering to $3,000 with a 100% increase in trading volume. Analysts predict a relief rally as sell pressure eases.

Ethereum's Taker Sell Volume's 30-day moving average dropped to $6.3 billion, indicating reduced urgency among traders to exit positions.
Tom Lee's Bitmine purchased 13,412 ETH worth over $40 million, reflecting renewed buying interest.
The Net Unrealized Profit and Loss (NUPL) indicator for ETH remains positive at 0.22, showing average holders are still profiting.
Binance recorded significant ETH outflows, reducing near-term selling risk despite moderate unrealized gains.

Recent Ether Price Weakness Still Suggests Caution

After falling below $2,800 last week, spot ETH ETFs experienced a net outflow of $644 million.
Crypto analyst CyrilXBT notes that while ETH is rebounding, it remains under key resistance levels between $2,700-$3,000.
If ETH surpasses $3,200-$3,400, it may indicate a healthier market condition.

Currently, ETH trades at approximately $3,031, up by 2% in the past day but still 38% below its August peak of $4,953.