Ethereum is maintaining a bullish trajectory, trading near $3,090 in 2025, driven by significant supply constraints and positive technical indicators. With over 30% of ETH locked in staking, the limited supply is enhancing price sensitivity. Technical analysis shows no breakdowns in key indicators like MACD and RSI on monthly charts, reinforcing the bullish outlook. Daily trading volumes have surpassed $11.5 billion, bolstered by active ETF participation and positive inflows. The market sentiment, as indicated by the fear and greed index, suggests increasing confidence among investors, further supporting Ethereum's stable position.