Glassnode: "Ethereum (ETH) is on the rise after its decline; the rally is just starting!"

Bitcoin and Ethereum Recovery: Bitcoin has surpassed $90,000, while Ethereum has surged to $3,400, marking its highest level since mid-November, indicating a significant recovery for both cryptocurrencies.

Analyst Predictions for Ethereum: Analysts, including Negentropic X and Merlijn The Trader, suggest that Ethereum's downtrend has ended, with signs of upward momentum and the formation of a bullish inverse head and shoulders pattern.

Technical Indicators: Ethereum has risen above its 50-day moving average, and analysts believe this trend break signals a potential strong recovery, similar to previous patterns observed in the market.

Critical Demand Zone: Rekt Capital highlights that Ethereum is in a critical demand zone, and if it closes above the CME futures gap level, the uptrend could continue, reinforcing bullish sentiments.