Ethereum's price has been gaining momentum in recent times, and analysts believe it is poised for a breakout towards $2,450 within the next two weeks.
The cryptocurrency currently trades at $2,276, with smart money holding 60.6% long positions, indicating substantial buying pressure. Technical indicators also suggest that Ethereum is on the verge of a significant price increase.
According to positioning data, both institutional and retail traders are showing strong conviction in the cryptocurrency's potential for growth. The derivatives market reveals that institutional players maintain substantial long exposure without warning signs of overleveraged positioning.