Ethereum (ETH) Price Analysis:
1. Technical Support: The price has bounced off the 200-day moving average, with a current trading range of $2,450–$2,700.
2. Upside Target: Breaking the $2,700 level could push the price to $3,000.
3. Institutional Shift:
- BlackRock and Fidelity have shifted $180 million from Bitcoin to purchase $78 million of ETH.
- Positive flows for Ethereum-related ETFs worth $109 million.
- Adoption of ETH as a reserve asset (example: SharpLink Gaming raised $425 million for its treasury).
4. Weekly Price Movement:
- Tuesday: A jump of 4% to reach $2,662.
- Thursday: Peaked at $2,790, then declined 2% to $2,632 after testing resistance at $2,800.
Note: The data reflects an analysis at the time of the report's publication, and the market should be monitored continuously.
