Ether’s price rallied nearly 3% on April 1, reaching $1,866, driven by significant developments including the launch of Privacy Pools on Ethereum backed by Vitalik Buterin. This privacy tool aims to enhance onchain privacy while addressing regulatory concerns, marking a notable advancement over previous privacy mixers. The support from Buterin, who made one of the first deposits, has sparked enthusiasm among market participants, potentially increasing Ethereum's utility and attracting more users. Additionally, a reducing supply of ETH on exchanges has been observed, with ETH balances dropping nearly 5% in the last month, indicating that holders are moving their assets into long-term storage. This trend has led to significant inflows into accumulation addresses, further signaling bullish sentiment. Moreover, ETH's price formation is attempting a V-shaped recovery pattern, suggesting potential upward movement. A breakthrough above a key resistance zone could lead to a 12% increase in price, with the relative strength index showing rising bullish momentum.

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