Ethereum Breaks Key Resistance as Price Targets $3,200 and Market Activity Accelerates

• Ethereum price moved to $3,045.91 in a 3.31% increase in wallets and a 24h volume increase of 84.94% to reach $29.35B.
• ETH pushes through resistance at 2,860, and chart countup sets a target of between 3,200 and 3,500.
• Due to Bitcoin remaining strong above the $122,000 level, market cap is currently touching a new high of $367.68b, equaling FDV.

Ethereum’s market activity has picked up pace, with the digital asset now trading at $3,037.1 following a 3.31% daily increase. Market capitalization was up to $367.68 billion, which is the same as fully diluted valuation. Meanwhile, 24-hour trading volume saw a sharp 84.94% rise to $29.35 billion. This is evidence of a cataclysmic shift in Ethereum’s near-term trajectory, which reflects increased trader participation and potential momentum continuation.

The rapid price move follows a month of incremental gains that signaled growing optimism in Ethereum’s price action. Technical charts now suggest that Ethereum has burst through important resistance levels that had been capping expansion over the past month. The move upwards appears well-supported by volume and momentum indicators and is set to draw greater market attention.

Ethereum Forms Bullish Continuation Pattern

Visual analysis from the July 14 chart indicates a clear upside continuation pattern on Ethereum’s daily chart. After forming a rounded bottom in June, ETH began pushing higher, eventually breaking out from the $2,860 resistance level. The breakout shows strong candle body closings above the resistance area, confirming bullish intent.

The dotted upward arrow in the chart illustrates the anticipated continuation toward the $3,200–$3,500 zone. This projection aligns with the pattern’s measured move based on the breakout structure. Notably, the breakout follows a prolonged accumulation phase that saw low volatility, now giving way to more directional price action.

In parallel, Bitcoin’s price on the chart sits at $122,419.74, marking a 2.76% daily gain. The upward trend of BTC can be compared to the Ethereum path. Bitcoin has continued its rally following a parabolic run that started towards the middle of January, and the price is now stabilizing around the $71,300 mark. These two assets have fluctuated together, most likely due to larger market effects and inflows.

Ethereum Sees Sharp Uptick in Market Activity and Investor Demand

Alongside Ethereum’s price movement, its market capitalization also expanded by 3.31% to reach $367.68 billion. Interestingly, the fully diluted value conformed to this amount, highlighting the present demand of investors. The volume spike- an increase of 84.94 over the last 24hrs shows a great level of market activity that has not been witnessed in the last 24hrs.

This increase in volume contributes to a price breakout in Ethereum, with volume spikes usually being sought after by traders.

Additionally, it suggests that institutional or large-scale participants may be entering positions. The synchronized movement across volume and market cap highlights growing confidence among market participants.

Bitcoin Maintains Uptrend as Ethereum Mirrors Momentum Toward $3,200 Breakout

Bitcoin’s movement adds further depth to Ethereum’s rise . BTC recently reached a high of $122,838 and is trading slightly below that at $122,419.74. The chart indicates Bitcoin has respected a rising curve pattern, climbing steadily since the $40,100 level seen earlier in the year.

The mirrored structure in Ethereum’s chart signals shared momentum, particularly as ETH now trails closely behind BTC in daily performance. Both charts exhibit very comparable breakout events with steady bullish trends indicating joint bullish action in main digital assets. The breach of the $3,200 resistance line will be the next task; upon confirmation, the higher range of the $3,500 zone will be prioritized.