Ethereum Reclaims $2,000 After 10% Daily Surge as On-Chain Data and Analyst Views Diverge

Ethereum (ETH) surged from $1,800 to above $2,000 over the past 24 hours, rising more than 10% day-on-day, though it remains 30% lower on a monthly basis with market capitalization around $237 billion, CryptoPotato reports. On-chain data show whales now hold over 24 million tokens, exceeding 20% of Ethereum's circulating supply, while exchange reserves remain close to a nearly 10-year low recorded earlier this month, according to CryptoQuant. Analysts offered mixed views: KALEO suggested ETH may be forming a double-bottom on higher timeframe support with scope to push past $2,000, while Merlijn The Trader noted price sits in a five-year demand zone historically associated with accumulation; bears including Crypto Tony warned of new lows if price falls below $1,820, and CryptoWaves flagged that ETH's RSI has risen above 70, signaling overbought conditions and potential correction.