Ethereum demonstrates a remarkable recovery after hitting the $1,500 support level, marking a significant price increase.
Ethereum Growth and BlackRock Purchase
After dipping into the $1,620–$1,700 support range, Ethereum rebounded to $1,806, marking an 11% weekly gain. Institutional investors, including BlackRock, added $54 million of ETH to their holdings, reigniting optimism for a move toward $2,500 in the coming months.
Prospects for Overcoming the $2,200 Level
On the weekly chart, Ethereum found support at the bottom of its key zone. The next hurdle is $2,200. A daily close above that level could unlock doors to a rally targeting $3,000–$4,000 over the next few months.
Technical Analysis and Trading Signals
Over the past two months, ETH’s weekly chart shows a falling wedge pattern, which often signals a reversal. Traders look for a breakout above the wedge’s upper line to open new opportunities for growth.
Ethereum's recovery, supported by institutional purchases, creates positive market expectations. Breaking the $2,200 level will be a key indicator for further growth.
