Ethereum has experienced a surge in buying activity on Coinbase, with net buys of over $150 million since Sunday. This pattern resembles similar buying activity observed in October, which preceded a major price breakout. The majority of the buying is occurring on Coinbase, suggesting that institutional players or large-scale investors may be behind this accumulation. The price of Ethereum has been facing resistance around $2,500, leading to lower highs in recent months. However, strong buying support at around $2,200 indicates a potential bullish reversal. If buying pressure continues, Ethereum could attempt to breach $2,500 and potentially reach levels as high as $2,800. However, a lack of buying support could result in a reversal towards $2,100. The market is closely watching to see if this accumulation leads to another significant rally.



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