Ether (ETH), the native token of the Ethereum network, is displaying bullish tendencies, with a current price of $3,300.43.
Factors Contributing to the Bullish Sentiment:
- Institutional Accumulation: Dartmouth College, an Ivy League endowment, disclosed a $4.99M position in Grayscale's Ethereum Mini Trust via a January 14 SEC filing, while BitMine Immersion invested $200M in Beast Industries to integrate DeFi.[¹](https://coinmarketcap.com/cmc-ai/ethereum/price-analysis/)
- Technical Breakout: ETH reclaimed its 200-day exponential moving average ($3,349), confirming bullish momentum.
- Regulatory Relief: Coinbase's pushback against the Clarity Act delayed restrictive crypto legislation.
Ethereum's On-Chain Activity:
The number of new and active user addresses nearly doubled in the last month, driven by expanding stablecoin usage and reduced transaction fees.[²](https://tradersunion.com/news/cryptocurrency-news/show/1290861-ethereum-slides-0-60percent-to-usd3289/)
What People Are Saying:
Some people are excited about the recent price action, with one observer stating, "Ethereum (ETH) is gearing for a big move". $ETH Others are more cautious, noting that pro traders are not bullish yet.
