Ethereum’s Price Holds Above $3,500, Suggesting Potential Breakout Toward $6,800 to $9,000

Key Points

1. Ethereum's current price trend shows resilience above the $3,500 support level, indicating potential for significant upward movement.

2. Technical analysts predict a 79% potential rally from recent levels, targeting $6,800 to $9,000 if key resistance levels are broken.

3. Institutional buying is increasing, with large ETH transfers totaling over $188 million and BlackRock acquiring 23,874 ETH worth $88.8 million.

4. Ethereum's social dominance stands at 11.41%, reflecting heightened market attention during consolidation.

5. The SEC's recent stance on liquid staking has eased some regulatory concerns, contributing to positive market sentiment.