Ether's price is showing signs of a possible increase to levels not seen since the introduction of spot Ether exchange-traded funds (ETFs) in July. Analysts suggest that a weekly close above $2,800 is crucial to confirm this upward movement. Matthew Hyland, a crypto analyst, predicts that if Ethereum can surpass $2,800 weekly, it could reach $3,500 to $3,600, benefiting other altcoins as well. Despite trading around $2,600 since August 17, Ether is currently priced at $2,758. A 3.35% increase in the past 24 hours has boosted confidence among traders. However, some analysts like Jamie Coutts from Real Vision emphasize the need for increased network activity for Ethereum to rally. On the other hand, Boomer Saraga of Khelp Financial believes that Ethereum's on-chain activity indicates peak performance, with the price lagging behind. Despite the launch of spot ETFs in the US, Ether has seen a 19.72% decline since July 25. Read more AI-generated news on: https://app.chaingpt.org/news