BlackRock's increasing accumulation of Ethereum (ETH) is contributing to projections of a price rally towards $3,000. Recent metrics show a 40% increase in Ether futures open interest and four consecutive weeks of inflows into spot Ethereum ETFs, indicating bullish sentiment among traders. Ethereum has been trading between $2,300 and $2,800 but may be ready for a breakout, aided by technical indicators such as a hidden bullish divergence noted on the 4-hour chart. This divergence suggests a potential trend reversal. BlackRock has amassed 1.5 million ETH, representing institutional confidence, despite the price remaining 48% below its all-time high. Additionally, Ethereum’s price stabilizing above key indicators like the Gaussian Channel suggests a potential surge towards $3,100 to $3,600, based on historical patterns. Analysts emphasize conducting thorough research as market conditions remain volatile.

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