After ETH breaks through 3150, market activity increases, and the multi-cycle upward trend becomes clear

Based on the latest market data, ETH has broken through the key price point of 3150 USDT, with the current price at 3150.05 USDT. This is not only a technical milestone of breaking an integer level but also reflects Ethereum’s recent strong performance. Combining market data, there are multiple factors supporting this breakout.

Multi-timeframe Uptrend Confirmed

From different time perspectives, ETH’s upward trend is quite clear:

The most noteworthy are the 24-hour and 7-day gains. The 5.36% daily increase combined with the 7.81% weekly increase indicates this is not a fleeting rebound but a relatively sustained upward process. Especially, the recent week’s gain exceeds the gains of the past month, showing a particularly strong upward momentum in recent days.

Market activity has significantly increased

The 24-hour trading volume reached $2.224 billion, a 108.36% increase from the previous day. Doubling trading volume is an important signal, indicating that this price breakout is driven not by a small amount of capital but by a noticeable increase in market participation. Large trading volumes usually mean more market participants are trading at this price level, enhancing the credibility of this breakout.

Fundamentals remain stable

As the second-largest project by market capitalization in the crypto space, ETH’s market cap has reached $37.913 billion, accounting for 12.31% of the entire crypto market. This market cap and market share provide fundamental support for its price performance. As the second-largest crypto asset, every price breakthrough by ETH attracts significant attention.

Short-term trend observation

Breaking through the 3150 integer level has psychological significance. In technical analysis, integer levels often become focal points for market participants. The performance after breaking through depends on whether the price can hold above this level. Based on current trading volume growth, market recognition of this breakout appears high.

Summary

ETH breaking through 3150 reflects Ethereum’s recent strong performance. The synchronized rise across multiple timeframes, significant increase in trading volume, and stable market ranking and market cap together form the foundation supporting this breakout. The significance of this move lies in confirming the recent upward trend over the past week, rather than being an isolated price event. The key going forward is whether ETH can hold above 3150 and continue to push toward higher prices.