Ethereum Price Consolidation and JPMorgan's Blockchain Move

Ethereum's recent price action has been characterized by consolidation near the $2,250-$2,300 range after a short-term pullback.

According to analysts' predictions, a key breakout level of $2,375-$2,460 could lead to a significant price increase towards $2,800-$3,161 if broken.

JPMorgan has filed with the SEC to launch an Ethereum-based Treasury fund, which could have implications for the cryptocurrency's price action in the future.