Ether (ETH) is showing promising signs of a potential triple-digit rally as spot exchange-traded funds (ETFs) inflows recover, signaling renewed institutional interest. After a rejection from the $3,650 to $3,350 range, Ether's price has stabilized around $3,200. However, positive shifts in ETF flows and market dynamics suggest a bullish outlook for the cryptocurrency.

Spot Ether ETFs are showing "the first signs of life" following weeks of outflows, according to Glassnode. Since November 21, total net ETF assets have increased by 28%, from $16.8 billion to $21.5 billion. Although this rebound is modest compared to the $32 billion peak in early October, it indicates improving demand as the year closes.

Data from CryptoQuant supports this emerging narrative. The net taker volume, while still negative at –$138 million, has improved significantly from October's –$500 million. This shift indicates that aggressive sellers are weakening, and taker buyers are slowly returning to the market. The 30-day moving average of net taker volume also shows an ascending pattern in its lows, a structure last seen in early 2025, just before ETH launched a 3X rally and printed a new all-time high.

Several analysts point to Ethereum's strong fundamentals and increasing adoption as key drivers for future price appreciation. Ethereum's post-merge deflationary mechanisms and staking infrastructure have created a tightening supply environment, reinforcing its value proposition. As of October 2025, over 29.4% of Ethereum's circulating supply was staked, generating yields for holders while reducing exchange liquidity. Base layer upgrades, such as the May 2025 Pectra upgrades, have also enhanced network efficiency and reduced gas costs, making Ethereum more attractive for decentralized finance (DeFi) and tokenized assets.

Institutional demand has further accelerated this trend. Spot Ethereum ETFs recorded $10.04 billion in net inflows during Q3 2025, outpacing Bitcoin ETFs for a 16-day streak in July. BlackRock's Staked Ethereum ETF, for instance, attracted $620 million in its first 10 days, while the Bitwise 10 Crypto Index ETF expanded institutional exposure to ETH. By August 2025, corporate treasuries and ETFs collectively held over 10 million ETH, valued at $46.22 billion, reflecting Ethereum's growing role as a yield-bearing and programmable asset.

The recent Fusaka upgrade on December 3, 2025, is another catalyst. The upgrade focuses on scalability, security, and validator efficiency, with early reports indicating improved transaction throughput and a reduction in layer-2 dependency, which are key for institutional-grade applications. This upgrade strengthens Ethereum's position in AI-linked tokenization.

Ethereum is trading around $3,250, recovering sharply after weeks of volatility. The rebound follows renewed accumulation by institutional investors and a wave of long positions opened by high-profile crypto funds. Despite resistance near $3,180–$3,220, Ethereum has regained upward traction, confirming support above $3,000 for the first time since early November.

Technically, ETH/USD has established a short-term contracting triangle between $3,080 support and $3,180–$3,220 resistance. A break above $3,220 would open the way toward $3,450–$3,500, with the next macro resistance zone at $4,061, aligning with the 0.618 Fibonacci retracement from the August highs near $4,862.

However, a failure to maintain $3,000 support would expose Ethereum to $2,975, with deeper support levels at $2,840–$2,820. Below that, the inverse cup-and-handle structure identified by multiple analysts suggests a potential retest of $2,616, though this scenario remains contingent on macro tightening or renewed whale distribution.

Overall, the confluence of renewed ETF inflows, strong on-chain fundamentals, positive technical indicators, and increasing institutional adoption suggests a bullish outlook for Ethereum. While short-term volatility is expected, the long-term trajectory points towards a potential triple-digit rally, driven by Ethereum's growing role as the core infrastructure for the next blockchain supercycle.