Ethereum is at a critical juncture after last week's rally, currently consolidating above $2,400. This level is a key battleground for bulls aiming for a breakout and bears anticipating a correction. A hold above $2,400 and a retake of $2,800 are crucial for sustaining bullish momentum.
CryptoQuant data indicates smart money is rapidly accumulating ETH. This accumulation suggests growing institutional confidence despite volatility. A breakout above $2,800 could trigger a broader rally, signaling a potential altseason.
Ethereum has surged over 50% in recent weeks, holding above the $2,400 support. Bulls must decisively push Ethereum above $2,800 to solidify a bullish phase. This move could potentially unlock a path toward the $3,000-$3,200 region.
Despite positive signs, Ethereum remains approximately 36% down from its December 2024 high near $4,100. Analyst Ali Martinez reports smart money accumulated over 450,000 ETH in the past month. Successful defense of $2,400 and a break above $2,800 could catalyze a broader altcoin rally.
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