The news article discusses the current state of Ethereum's price and analyzes the possibility of a triangle breakdown. Despite a recent pullback and concerns about a potential breakdown, there is optimism due to rising institutional support for Ethereum. Whales have been accumulating Ethereum, with 600,000 ETH purchased in the past week. Additionally, there has been a decline in ETH supply on exchanges. Institutional investors like BlackRock and World Liberty Finance are increasing their holdings of Ethereum, indicating growing support for the cryptocurrency. The article also mentions technical analysis, noting a descending triangle pattern and a potential bullish reversal if Ethereum can break above certain resistance levels. Despite short-term bearish pressure, bulls are expected to regain control, with a target price of $3,500. The crucial support levels are at $2,509 and $2,400.



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