$ETH

Ethereum shows a noticeable reoccey as of late. Factors contributing to the rebound:

*Broader Market Recovery: Ethereum's recovery is part of a wider positive movement in the cryptocurrency market.

*Short Squeeze: Marker trends suggest that a short squeeze is contributing to the recent price increase. This occurs when traders who bet on the price going down (short positions) are forced to buy back ETH to cover their positions as the price rises, further driving the price up.

*Oversold Conditions: Technical indicators previously suggested that Ethereum was in an oversold state, which often precedes a price correction upwards as buyers step in.

*Anticipation of Network Upgrades: Positive sentiment surrounding upcoming Ethereum network upgrades, such as the Pectra upgrade expected around mid-2025, can also contribute to price increases. These upgrades aim to improve the network's scalability and efficiency.

*Decreasing Trade War Tensions: Similar to Bitcoin, a perceived decrease in global trade war tensions can create a more favorable environment for risk assets like Ethereum.