Ethereum Surges Over 40% Driven by Spot Market Demand

Ethereum (ETH) has increased over 40% in the last two weeks, currently trading in the mid-$2,000 range. This rally appears driven by spot market demand rather than leveraged trading.

Key Insights on Ethereum's Rally

ETH is showing an organic uptrend after lagging behind Bitcoin (BTC), Solana (SOL), and XRP.
Funding rates for ETH have remained flat during the price surge, indicating genuine buying activity.
Flat funding rates reduce the risk of sudden price reversals due to liquidations.
Analyst Ali Martinez notes that a decisive break above the $2,380 resistance could lead to a new bull rally.
Approximately 10 million wallets hold over 69 million ETH within the critical support range of $2,060 to $2,420.

Potential for New All-Time Highs

ETH remains below its all-time high of $4,878 from November 2021.
Market analysts suggest a new ATH may be forthcoming based on current trends.
Analyst Titan of Crypto predicts ETH will follow BTC’s recovery trajectory.
Analyst Ted Pillows outlines five factors that could propel ETH to $12,000 by 2025, including regulatory developments and ETF inflows.
Current ETH price stands at $2,555, reflecting a 3% increase in the last 24 hours.