Ether (ETH) is experiencing a bullish rally, recently surpassing the $2,150 mark and setting its sights on a potential retest of $2,500. This upward movement is supported by strong spot and futures market volumes, indicating a shift in market dynamics. The Capriole Macro Index Oscillator shows ETH is in a historically rare undervalued zone, suggesting limited downside risk and the possibility of a trend reversal. The market structure is improving, with sustained demand reflected in the aggregated spot cumulative volume delta of 184,500 ETH. Analysts note that the current conditions resemble previous accumulation phases before significant price rallies, including those seen in 2022 and 2023. For ETH to maintain this momentum, reclaiming the $2,400–$2,500 level will be essential, along with a positive shift in the macro indicator.