The Ethereum price is currently trading at around $2,741 and is showing signs of a potential breakout rally. The 4-hour price chart reveals a triangle pattern, with Ethereum challenging the overhead trendline. If it manages to break through the resistance at the 100 EMA line at $2,761, it could potentially reach the 200 EMA line at $2,900. The momentum indicator suggests a surge in bullish momentum with the RSI line crossing above the halfway level. Additionally, there has been a significant increase in institutional support for Ethereum, as evidenced by the net inflow of Ethereum ETFs totaling $19.02 million. Whales have also bought 430,000 ETH in the last 72 hours, indicating growing demand and the potential for a bullish comeback. The SEC has acknowledged a filing for an Ethereum ETF staking feature, further bolstering the foundation for Ethereum. If the triangle breakout occurs, Ethereum could reclaim the $3,000 mark and potentially rally towards $4,000. Key support levels are currently at $2,400 and $2,200.



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