Ethereum is showing signs of recovery, trading around $3,475 after a dip below $2,800, thanks to significant purchases by whales totaling 8,440 ETH worth approximately $28.43 million. This activity, alongside strong support levels and increased trading volume, suggests growing investor confidence and potential for further gains. If Ethereum breaks the $3,500 resistance, it could aim for $4,000, bolstered by its role in decentralized finance and the upcoming Ethereum 2.0 upgrade.