Summary: Ethereum's price has seen a significant drop and has not reached a new all-time high like Bitcoin. The daily chart shows lower highs and lows since December 2024 and the loss of the 200-day moving average. However, there has been a significant rebound, with the price breaking above the $2,400 level. The price needs to climb above the 200-day moving average for a new bullish trend to begin. The futures market has seen a high amount of short liquidation, leading to buying pressure and a price bounce. To establish a new bull trend, the market needs to continue higher on spot demand.



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