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Ethereum Builds Momentum: Can ETH Price Reclaim $3,000?

Author: Content Editor
The article discusses the possibility of Ethereum (ETH) surpassing the $3,000 mark, as it approaches a breakout rally. The price of ETH has been rising, with three consecutive positive days and a recovery of 0.61%. The chart analysis indicates that ETH is forming a consolidation range with a crucial resistance at $2,807, and a potential rounding bottom pattern with a neckline at the 50% Fibonacci level near $3,000. Technical indicators, such as the RSI and moving averages, are showing bullish signals in the short-term. Additionally, Ethereum whales are returning to the market and network activity is improving. However, institutional investments in Ethereum remain low, as evidenced by negative net flows for U.S. Ethereum spot ETFs. The article concludes by stating that if the uptrend continues and surpasses the $3,000 mark, the next price targets could be between $3,241 and $3,591.

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