The Ethereum (ETH) price has seen a recent surge, increasing by 10% in the last 24 hours and pushing the altcoin to $3,422. This rise is attributed to increasing institutional interest and heightened trading activity among whales and key stakeholders, as evidenced by a significant increase in large transactions. This suggests a bullish outlook for Ethereum, with the potential for the price to rise above $4,500 in the short term. Other indicators, such as the Weighted Sentiment and Accumulation/Distribution lines, also point towards a positive trend for ETH. However, if the cryptocurrency fails to break above a resistance level, there is a possibility of a decline in price to $3,178.



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