Analyst: ETH is expected to break through 3000 this week, as institutional capital inflows enhance bullish momentum.

According to Deep Tide TechFlow news on July 10, as reported by Cointelegraph, ETH closed above $2700 on Wednesday and continued to maintain strong momentum on Thursday, with analysts expecting it to challenge the psychological barrier of $3000.

The data analysis platform Swissblock points out that the current trend of ETH relative to Bitcoin is more bullish than in the second quarter, which may signal the start of the altcoin season. Analysis shows that the inflow of funds into Ether is strengthening, with its ecosystem narrative continuously enhancing, contrasting with Bitcoin's weakness.

The Chicago Mercantile Exchange (CME) Ethereum futures open interest has surged to $3.27 billion, the highest level since February 2, indicating a significant increase in institutional demand. Meanwhile, the spot ETH exchange-traded funds (ETFs) have maintained net inflows for eight consecutive weeks, accumulating over 61,000 ETH during this period.

On the technical front, Ethereum is attempting to break through the long-term resistance range of $2650 to $2750. If successful, it will pave the way towards $3000. However, cryptocurrency analyst Maartunn warns that ETH futures open interest surged over 10.6% on Tuesday, indicating a rise in speculative sentiment, which historically has often been followed by price corrections after similar leverage spikes.