Ethereum has experienced an increase in buying pressure near the $2.4K support level, resulting in a surge in price and the recapture of key resistance levels. This indicates a shift towards a bullish market sentiment, with higher price levels expected in the short to mid-term. A brief consolidation correction phase may be necessary to maintain the health of this trend, allowing for profit-taking and market stabilization.
The fund market premium metric, which reflects the difference between a fund’s market price and its Net Asset Value (NAV), has also shown improvement, indicating a resurgence in investor interest and confidence in Ethereum-backed assets.
