The price of Ethereum has bounced back above $2,700, showing signs of a potential bullish rally. Technical indicators such as MACD and RSI are signaling a boost in bullish momentum and a possible trend reversal. If Ethereum can assert dominance at the crucial level of $2,904, there is a potential upside of nearly 7% to reach $3,324. On the other hand, a closing below $2,524 could nullify any bullish recovery and increase the downside risk. Additionally, there has been a rising surge in demand for Ethereum among crypto whales, with their holdings increasing significantly, indicating the potential for a bull rally and new price highs.



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