Ethereum (ETH) surged from $2,773 to $2,980, marking a 6% increase in a single day amid significant market volatility. This rebound followed $420 million in liquidations, which helped alleviate selling pressure and suggested potential institutional buying interest. Technical indicators show ETH approaching its 120-day moving average, with the Relative Strength Index (RSI) moving out of oversold territory. The cryptocurrency's fundamentals are bolstered by a 7.5% staking yield and ongoing Layer 2 upgrades. Additionally, favorable regulatory developments, such as those from the CFTC and MiCA, contribute to a more balanced risk-to-reward ratio for traders.