The price of Ethereum (ETH) has retraced nearly 5% after a gain of 8.80% yesterday, dropping to the $3,260 level. However, whales and long-term holders have been accumulating ETH, with large amounts being withdrawn from exchanges. The accumulation suggests growing confidence in ETH's price potential. Technical analysis indicates a bullish outlook for ETH, with the possibility of a 15% increase if it breaches the current pattern and closes above the $3,500 level. The Relative Strength Index (RSI) is also indicating potential for an upside rally.



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