Ethereum Trades Above $2,700 With Bullish Signals Suggesting Potential Move Toward $2,850

Key Points

1. Ethereum's price increased by 5% in 24 hours, reaching $2,790, with market capitalization at $336.81 billion and trading volume up 40% to $26.8 billion.

2. Technical indicators like the Relative Strength Index (RSI) suggest continued uptrend potential, with the $2,700 level now acting as support.

3. On-chain data shows 71% of Ethereum holders are in profit, and large holders control 56% of the circulating supply, indicating strong accumulation.

4. Exchange netflows reveal $493.33 million in ETH withdrawals, a sign of reduced selling pressure and potential for further price increases.

5. The next key resistance level is at $2,850, with market sentiment suggesting possible upward movement if this level is breached.