Ethereum price soared 0.55% over the past 24 hours to trade at $2,154.90, reflecting renewed buying interest. The move comes after a significant signal of institutional accumulation that intensified trust among the market participants.
BitMine has revealed a large holding of ETH worth $6.6 billion, which highlights a long-term strategy of yield. According to analysts, Ethereum has recently went through a period of consolidation below a major support trendline.
The ETH has now been above that mark, indicating that it might gain more momentum. In case the future ETH outlook is projected to be above $2,140 long-term, the next resistance level becomes $2,250. A fall to less than $2,100 would show downside risks within the short-term.