Ethereum Price: Bullish Reversal on the Horizon?

Ethereum (ETH) price is showing signs of a bullish turnaround, holding firm near the $1,800 support level. After bouncing from the $1,750 mark and showcasing multiple long-tail bullish candles, analysts attribute this surge to the growth of DeFi applications and growing institutional interest in the cryptocurrency. 130,000 ETH were accumulated by whales in the past 24 hours, while Ethereum futures open interest reached a high of $20.63 Billion. This suggests that bullish sentiment is steadily escalating. Technical analysis reveals a Wyckoff accumulation pattern, indicating a potential breakout above $2,000 if momentum builds.