Ethereum Price Rallies 4%, Poised for Potential Bull Run: Market Analysis

Ethereum (ETH) prices have surged upward, exceeding $3,144 and sparking speculation about a potential market reversal. This rally has been driven by increased institutional interest in DeFi applications alongside the broader growth of the Ethereum ecosystem. Data suggests a possible higher low formation on the four-hour timeframe, with ETH/USD trading above a crucial mid-term supply level around $3,082. 4% gains over the last 24 hours have fueled this momentum.