Ethereum (ETH) is showing bullish signs as its price climbs past the $3,000 mark after a period of stagnation. The positive trend is attributed to capital shifting from Solana to Ethereum amid controversy surrounding Solana's meme coin ecosystem.
Recent data highlights a significant influx of stablecoins into Ethereum, with a rise of $1.1 billion, while Solana saw a decrease of $772 million. Ethereum's Total Value Locked (TVL) has also increased to $63.7 billion, indicating growing confidence, while Solana's TVL experienced a decline.
The potential completion of a 'golden cross' in Ethereum's price chart could propel ETH to $3,020 with a possibility of a 22% rally. However, a failure to maintain upward momentum could see Ethereum retesting key support levels.