Top 4 Reasons Why Ethereum Price Will Hit $3k This Week

Ethereum price rose 4.80% to $2,752.53 within 24 hours, strengthening expectations of a move toward $3,000 this week. 

The wider cryptocurrency market gained 5.23%, reaching $2.91 trillion as risk appetite improved sharply. 

Bitcoin’s climb beyond $84,000 provided further support for major altcoins. Institutional accumulation, stronger derivatives activity, and liquidations now reinforce Ethereum’s near-term bullish outlook for traders.

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Broader Crypto Market Rally Supports Ethereum Price

Bitcoin briefly touched $86,000, reaching an eight-month high and extending its three-month gain to 49%.

The recovery added roughly $568 billion to Bitcoin’s market value and strengthened confidence across the altcoin sector.

Ethereum price gained almost 7% during the past week before extending its advance above the important $2,700 threshold.

The Crypto Fear and Greed Index recovered to 79, indicating neutral conditions after February’s period of deep pessimism.

Continued improvement could encourage sidelined capital to return, helping Ethereum challenge resistance near the $3,000 level.

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BitMine’s Continued ETH Purchases Strengthen Institutional Demand

BitMine added another 27,562 ETH last week, continuing a regular accumulation strategy maintained since June 30, 2025.

This company currently owns 5,983,940 ETH, which is approximately 5% of the supply of Ethereum.

🚨BITMINE JUST ADDED ANOTHER 27,562 ETH!

Bitmine bought 27,562 ethereum:native last week and now holds 5,983,940 ethereum:native, about 4.9% of supply.

Combined holdings hit $17.1 billion, with 5,067,309 ethereum:native staked.

Another week of buying, every week since June 30,… pic.twitter.com/PfdeogH1IE

— Crypto Banter (@crypto_banter) September 21, 2026

Its consolidated assets are estimated at about $17.1 billion and 5,067,309 ETH are staked in the activities at the moment.

Such recurrent acquisitions decrease the supply in the market and represent a long-term institutional belief in the future of Ethereum.

But United States spot Ethereum ETFs registered 140 million weekly outflows, terminating four weeks of straight inflows.

That is one of the main pitfalls, but the accumulation of BitMine can partially offset the recent drop in the ETFs demand.

Rising Open Interest and Short Liquidations Could Fuel Ethereum’s Rally

Ether derivatives have been on the increase with the spot prices and have been more actively traded when the market is at large.

Trading volume increased 78.93% to $74.55 billion, while open interest rose 6.48% to $36.69 billion.

Options volume climbed 79.13% to $2.14 billion, and options open interest advanced 2.16% to $8.50 billion.

Meanwhile, roughly $648 million in bearish crypto positions were liquidated as Bitcoin’s rally triggered a major short squeeze.

Further Ethereum gains could force additional short closures, creating momentum toward $3,000 if broader market conditions remain supportive.

Will Ethereum Price Hit $3k This Week?

The ETH price surged to $2,751 after gaining 8.85% within a rising four-hour channel.

Ethereum briefly reached $2,766.84 as increasing volume supported the latest upward move. The token is now close to resistance at around 2800.

The Relative Strength Index was however at 76.58, meaning Ethereum is overbought. This reading augurs well with the likelihood of short-term pullback

The Chaikin Money Flow is still positive at 0.40, indicating high capital inflows. That power implies that the rally continues to be supported by the demand in the market.

The nearest support is almost at$ 2,700 and then the channel base at $2,600. The loss of $2,600 will slow the pace and reveal $2,300.

The future ETH price outlook is still optimistic, and the price is still above the rising channel. A confirmed breakout above $2,800 would reinforce the argument of the $3,000.