Ether (ETH) price has surged 11% since dropping below $3,000 on Nov. 22, with analysts predicting a recovery to $3,600. Increased demand from institutions and the end of quantitative tightening are driving this rebound. Ethereum’s apparent demand has hit a 26-month high, signaling aggressive accumulation and a potential imminent rebound. Ethereum ETF flows have turned positive, with inflows totaling $230.9 million after a period of outflows. The end of quantitative tightening on Dec. 1 historically precedes parabolic ETH rallies, with expectations of a similar outcome this time. Investors have acquired around 4.95 million ETH at an average cost of $2,800, creating a strong support level that could launch a rally. Ether’s V-shaped chart pattern targets $3,600, with a potential 26% price increase from current levels. Analysts emphasize the importance of defending the $2,800 support level for a bullish continuation and warn of a downtrend if it breaks. Michael van de Poppe predicts a strong upward move for ETH in the coming weeks, suggesting the cycle is far from over.

Read more at Cointelegraph: Here’s Why Ethereum Price Remains Bullish Above $2.8K