Ethereum [$ETH] has traded within an ascending channel since it reclaimed $2k and has held above this level for 12 consecutive days. As of this writing, the altcoin traded at $2340, down 2.02% on the daily charts.

With the market stabilizing above $2k, institutional investors have increased capital deployment into the altcoin. Institutional demand is especially driven by U.S. investors, as the Coinbase Premium Index has remained elevated for two consec