Why does Ethereum (ETH) have the price today?

ETHER (eth) increased 7% in 24 hours to around $ 2,350 on March 3, briefly exceeding $ 2,550 before taking a profit. Despite the rebound, it continues to increase 13% from its minimum of $ 2,075 last week.

Multiple catalysts are helping Ether recover from their recent minimums, namely:

• Trump's latest update on the Cryptographic Strategic Reserve of the United States.

• eth supply increase between whales.

• Improvement of technicians, including a strong confluence of support.

Trump will include eth in the cryptographic strategic reserve

Ether's last price increase is largely attributed to Trump's announcement from an American cryptographic strategic reserve.

What to know:

• Trump ordered the president's working group on digital assets to include XRP (XRP), Solana (Sol) and Cardano (ADA) in a cryptographic strategic reserve.

• Trump added that bitcoin (btc) and Ether would be in the “heart of the reserve.”

• Being part of a national reserve strategy can suggest regulatory clarity and institutional acceptance of eth.

• Analysts see this as an upward sign for ethereum's long -term role in the financial system,

• Poseidon's popular cryptographic analyst, for example, anticipates a rally at $ 4,000 in April.

ethereum whales are waking up

Ether's profits in the last 24 hours appear after a constant increase in the eth supply held by whales.

Key control:

• The great headlines of eth (1k-10k eth) have been intensifying their accumulation of eth since January, Glassnode data <a target="_blank" data-ct-non-breakable="null" href="https://studio.glassnode.com/charts/eth-address-supply-shark-netposchange?a=eth&c=native&mScl=lin&pScl=lin&resolution=24h&s=1438214400&u=1740873600&zoom=” rel=”nofollow noopener” target=”_blank” text=”null” title=”https://studio.glassnode.com/charts/eth-address-supply-shark-netposchange?a=eth&c=native&mScl=lin&pScl=lin&resolution=24h&s=1438214400&u=1740873600&zoom=”>shows.

Related: ethereum's pein update could lay the foundations for the next market rally

eth Price bouncing multimanth support

Ether's profits appear today after trying a multimanth accumulation zone (the red area) that has historically led to short -term price rebounds.

Key points:

• Ether Bears has failed to boost prices below the range of $ 2,100-2,500 since December 2023.

• The range includes a key support level of the 200 -week exponential mobile average (200 -week EMA; the blue wave), currently by around $ 2,300.

• As of March 3, Ether is recovering after trying the 200 weeks EMA, looking at an extended rebound to the 50 -week EMA in around $ 2,910.

• A rupture above the EMA of 50 weeks could send the price towards the upper limit of its prevailing rectangle pattern at around $ 4,000.

• The H&S pattern is resolved when the price breaks below its neckline supports and falls as much as the maximum height of the pattern.

• If the current recovery fails, this technical rule brings $ 1,360 as the main objective of ethereum.

This article does not contain advice or investment recommendations. Each investment and trade movement implies risk, and readers must carry out their own investigation by making a decision.