Ethereum's price continues to hover above the $3,000 mark, indicating the potential for further gains as the general market sentiment shows signs of improvement. Recent on-chain data points to large investors actively accumulating ETH, suggesting a growing confidence in the prospect of a price rally.
The presence of whale investors in the market underpins a bullish outlook, with technical indicators aligned in support of further upward movement. Ethereum could potentially climb higher if the current buying pressure persists, reinforcing the optimistic expectations currently circulating in the market.