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.

Key takeaways:

Ethereum demand is recovering along with ETF inflows.

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