Ethereum (ETH) is showing signs of strength again after a recent dip, thanks to a recovery in U.S. tech stocks. Last week, AI-related stocks dropped due to misunderstood analyst comments, which caused some panic in the market. But this week, those stocks—especially big names like Oracle—bounced back, and Ethereum followed the same trend.

This bounce-back highlights how closely Ethereum moves with the Nasdaq 100, a major index that includes top tech companies. When tech stocks go up, Ethereum often does too. This connection helps traders and investors see Ethereum as a strong option when tech markets recover.

Right now, Ethereum is priced at around $2,938.21, with a market cap of over $354 billion. It holds nearly 12% of the total crypto market share. While ETH’s price dropped about 25% over the past two months, it’s showing a small gain of 0.14% in the last 24 hours. Trading volume is down nearly 39% in the same time frame, but signs are pointing to less panic selling and more market confidence.

On-chain analyst Garrett Jin recently spoke out after a two-month break, strongly supporting a bullish outlook for both Bitcoin and Ethereum. His predictions? Bitcoin heading to $106,000 and Ethereum targeting $4,500. While big names like Binance’s CZ or Ethereum’s Vitalik haven’t made direct statements, trading patterns seem to support Jin’s optimistic view.

Ethereum’s strong link to the Nasdaq 100 continues to be a key theme in crypto analysis. When tech stocks rise or fall, Ethereum often follows—making it a strategic asset for investors watching both markets.

Experts at Coincu also note that Ethereum’s price trends are heavily influenced by developments in the tech sector. As investment in artificial intelligence and other technologies grows, Ethereum’s price could see more movement. But with that comes ongoing volatility, meaning prices might swing as tech and crypto continue to evolve side by side.