The price of Ethereum has recently experienced a significant drop, but it has since rebounded above $2,400. However, it is facing resistance near the $2,500 level. The price trend of Ethereum shows a bearish breakdown of a consolidation range, but the recent recovery is retesting the broken range. Technical indicators give a bullish viewpoint, but there is a potential bearish turnaround indicated by an evening star pattern. Despite the volatility, there is hope for a bullish comeback as whale accumulations of Ethereum are increasing, with significant buying activity observed at discounted prices. Additionally, there has been a surge in staking interest, with over 2,000,000 ETH staked on the Aave network. This indicates increased confidence in Ethereum. A bullish rebound above $2,530 could reinstate a new bullish trend and potentially push the price to $2,900, while a failure to hold above $2,360 could lead to a bearish breakdown.



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