Current Price Movement: Ethereum has recovered from a key support level of 3,542 USD and is currently trading around 3,595 USD. The resurgence in Bitcoin’s bullish momentum may propel Ether toward new highs.

Whale Activity: Ethereum whales are increasing their activity, exemplified by Jeffrey Wilcke’s transaction of 20,000 ETH and Winslow Strong’s transaction of 9,380 ETH. This indicates significant upward momentum.

Institutional Demand: Demand from institutional investors is reflected in the rise of Ether ETFs in the U.S. A major whale has spent 64 million USD to purchase nearly 20,000 ETH from Bybit.

Technical Outlook: Ethereum’s price is likely to continue trending upwards, with a 4-hour target of 3,911 USD. In case of bearish sentiment, solid support will be above 3,285 USD.