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Although Ethereum (ETH) has recently lost the threshold of $ 3,000 due to the wider encrypted currency market corrections that are affected by the escalation of organizational tensions between the United States and China, optimism in the pioneering altcoin continues.
As of now, ETHEREUM has recovered approximately 10 %, as it has been traded slightly higher than 2800 dollars, which places it over the main support levels that can pave the way for the highest new standard in this upscale cycle.
Critical level of 2700 dollars: the key to the board
Throughout Market cycleEthereum struggled compared to her peers. With a general increase to the date of (YTD) by only 21 %, it has been dramatically left behind other cryptocurrencies such as Solana (SOL) and XRP, which recorded wonderful gains of 120 % and 420 %, respectively.
Nevertheless, Ali Martinez’s encryption analyst Indicate This Ethereum should maintain the support level of $ 2750 to create a basis for a possible height to $ 6,760.
In another analysis, Martinez noticed that if Ethereum forms a head and open-style-a common technical chart-Altcoin needs to stay over $ 2700 to keep its upper structure, with a goal From reaching $ 7,000.
This indicates that the level of $ 2700 is pivotal for ETHEREUM capabilities to achieve a new record, indicating a possible 150 % increase if these scenarios are realized.
Another analyst, known as morecryptoonl, warned that the market lacks a large structure at the present time, Indicating A lounge is higher than another local level of $ 2,909 that indicates a more stable price environment. He stressed the importance of maintaining support above $ 2,236 to recover more.
Trump’s family supports ethereum
In addition to optimism, the Trump family showed remarkable support for Ethereum. The world is financial freedom (WLFI) recently bought an additional 1,826 ETH, amounted to about $ 5 million.
According to Lookonchain DataWith a total investment of 61,114 ETH for $ 205 million at an average price of 3,354 dollars, WLFI offers a loss of $ 31 million in this position.
Moreover, the Trump encryption project also transferred large sums from various encrypted currencies, including 86296 ETH ($ 235 million) and 647 WBTC ($ 65.5 million), to Coinbase Prime, indicating a strategic location within the encryption market.
The last ETF flows reinforced by ETHEREUM reveals a noteing direction: While nearly 2,400 BTC was sold on February 3, the boxes circulated in ETH (ETH) were sold. Net flow From 83.6 million dollars.
This contradicts sharply with $ 234.4 million in net external flows from Bitcoin Investment funds, which indicates that institutional investors are increasingly confident in the future of ETAREUM, despite recent price corrections.
ETH is trading of $ 2,819, as it decreased by up to 21 % on a monthly basis, with a 42 % gap to the highest level ever at $ 4,878 reached during the 2021 bull race.
Distinctive image from Dall-E, Chart from TradingView.com