Ethereum has surpassed $2,700, a significant price level, showing promise of further upward trajectory. Previously dipping below $2,400, ETH is now overcoming significant resistance levels.
The Ethereum Exchange Netflow suggests reduced selling pressure as 29,378 ETH was removed from exchanges, indicating a potentially bullish trend.
High-value ETH holders are accumulating more, signaling a bullish sentiment. The number of addresses holding over $1 million in ETH has increased, supporting this notion.
Crypto analyst Michaël van de Poppe suggests breaking $2,770 would mark substantial progress towards achieving $3,200.
ETH's current pattern indicates a potential rise if bulls defend the $2,689 support. Surpassing $2,989 resistance could see prices aiming for $3,316.
The positive trajectory could falter if ETH drops below the $2,689 support, risking a fall to $2,471.
