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– Ethereum price reclaims $3,000 after 17% rise from $2,620. – US Ethereum ETFs see $291 million in net deposits since November 21. – Tom Lee-linked wallets purchased $185.6 million ETH over the past week. – Bitmine-linked wallets receive $44.3 million ETH inflow recently. – Ethereum reaches intraday peaks near $3,070 on November 28. – Falling wedge pattern indicates a potential 50% upside move for ETH. – Key resistance at $3,108 with bullish breakout confirmation above $3,150–$3,200. – Potential advance to $4,500–$4,600 if bullish breakout confirmed. – Risk of downside if ETH falls below $2,880 support level.
Ethereum price has surged 17% from a low of $2,620 on November 21 to reclaim the $3,000 level. The recovery is largely driven by institutional investments, with US Ethereum ETFs seeing $291 million in net deposits since November 21.
- Increased ETF demand has boosted both derivatives and spot markets, leading investors back to accumulation mode.
- Arkham reported $44.3 million inflow into Bitmine-linked wallets associated with Tom Lee, totaling $185.6 million in the past week.
Price Forecast: A falling wedge pattern suggests a potential 50% upside move for ETH, possibly reaching $4,500–$4,600 if certain technical levels are breached.
- Resistance is at $3,108, with momentum indicators like MACD turning positive.
- A daily close above $3,150–$3,200 could confirm a bullish breakout.
- If ETH falls below $2,880, it may retest $2,744, invalidating the bullish outlook.