Ether’s price has recovered to $3,077 from local lows of $2,620, up 17%. However, treasury buying and overhead resistance are hindering sustained recovery toward $4,000. Ether treasuries have collapsed by 80%, raising concerns about sustainability. Breaking resistance at $3,200 is crucial for confirming recovery. Falling wedge breakout targets $4,150 if support levels hold. Institutional buying has dropped significantly, leaving only a few large players active. Bitmine continues to add ETH to its treasury, but monthly volumes have declined. Treasury purchases still exceed monthly ETH supply, but the pool of active buyers is narrowing, signaling the DAT model’s collapse.ETH price has reclaimed a key support area around $3,080, where SMAs converge. A daily close above this level could signal a bullish trend. Resistance at $3,000-3,100 is crucial to break for further upside. A close above 20-day EMA at $3,100 could clear the way for a climb toward the 50-day SMA at $3,500. Ether’s falling wedge breakout targets $4,150, representing a 36% increase from the current price. Analysts suggest Ether is undervalued, aligning with the upside target.

Read more at CoinTelegraph: Ethereum Treasury Demand Slips 80% as ETH Price Reclaims $3K