Ether is struggling to recover above the key $3,000 mark, critical for reversing its two-month downtrend following the largest hack in crypto history, involving $1.4 billion. Since peaking above $4,100 in December 2024, Ether's value has declined. However, after Bybit's significant purchase of over 106,498 Ether in the wake of the hack, Ether saw a rise of over 5.38% in two days. Analysts indicate that regaining the $3,000 resistance zone is essential for continued price gains, especially if institutional interest strengthens. Furthermore, a decline in Ether supply on exchanges adds a positive signal for price recovery. Should Ether surpass $3,000, it could trigger over $623 million in leveraged short liquidations across exchanges, potentially fueling further upward momentum.

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