Four Reasons Why Ethereum Price Remains Bullish Above $2,800

Despite Ether’s drop below $3,000, data suggested that ETH price could see a sustained recovery over the next few weeks, as long as the $2,800 support level held.

Ether (ETH) price is up 11% since plunging below the $3,000 mark on Nov. 22, reclaiming key support levels. Analysts say that increased demand from institutions, coupled with the end of quantitative tightening, could lead to a recovery toward $3,600 next.

Ethereum demand is recovering along with ETF inflows.

The end of the Fed’s QT on Dec. 1 will unlock liquidity into crypto markets.

Ether’s V-shaped chart pattern hints at a $3,600 target if key support holds.

Ethereum’s Apparent Demand has remained positive despite the recent drawdown and has risen to its highest level since September 2024.

Apparent Demand is a metric that gauges Ether’s market demand by measuring the difference between the daily ETH issuance and the change in inventory (supply that has been inactive for over one year. Positive values suggest rising demand.

Capriole Investment’s Bitcoin Apparent Demand metric reveals that demand for Ether has increased sharply to 90,995 ETH on Nov. 26, from 37,990 ETH on Nov. 22.

Related: High percentage of Bitcoin, ETH, SOL held at a loss: Is it a bear market sign?

Increasing ETH demand amid drawdown signals aggressive accumulation on price dips, pointing to an imminent rebound.

Source: CoinTelegraph