Assessment of Ethereum's Price: ETH Soars by 7% Daily, Aiming for $2,800 Next

Ethereum has demonstrated robustness by reclaiming the crucial 200-day moving average at $2.5K, which indicates an increasing bullish momentum. If the buying interest stays strong, it’s likely that the value will continue to rise towards the $2.8K resistance. Recently, Ethereum found a strong support at the 100-day moving average near $2K, which caused a spike in buying interest and a momentum shift.

It's now crucial for ETH to maintain above the 200-day average to continue this upward trend. Meanwhile, Liquid Staking of Ethereum reached its highest monthly growth since June, reducing the circulating supply and showing a strong belief in Ethereum's future valuation. This trend is primarily driven by institutional entities, indicating Ethereum may be on the verge of a significant upward shift.