Since December 17, 2024, $ETH has been stuck in a downtrend, but now, it has completely broken out with the largest daily candle. 📈
As long as Ethereum holds above $2300, its first key target will be to test $2500 and break through the $2850 zone. 🔥
Hopefully, ETH continues to consolidate at these levels because of major On-Chain Growth that fuels the rebound 💹👇
1️⃣ Despite price fluctuations, Ethereum's layer-2 upgrades boosted scalability, with its TVL reaching $64B—nearly triple that of Solana, BNB, and Tron combined ($22.3B).
2️⃣ Institutional interest is rising, with World Liberty Financial acquiring 1,500+ $ETH worth $3.5M, as per Arkham Intelligence.
3️⃣ Market sentiment has turned positive as ETH trading volume jumped to $40.2B.
4️⃣ In the past 24 hours, $258M in positions were liquidated, including $122M in shorts. Liquidating shorts creates rapid price spikes, especially when combined with strong buying pressure.
