Ethereum recorded a significant rise today, reaching $2,641, supported by institutional inflows exceeding $583 million this week. This momentum is attributed to the increasing use of Ethereum in stablecoin issuance and network improvements via the 'Pectra' update. Technically, indicators suggest the formation of a 'cup and handle' pattern, with resistance at $2,950 and strong support around $2,540. If the resistance is breached, the price could reach $4,000. The outlook is positive in the near term, especially with the continued institutional momentum. It is advisable to monitor the price movement around $2,700 as a key to the upcoming trend
