Ethereum Price Action and Analysis:

Ethereum $ETH has been attempting to turn key resistance levels into support, with recent price action showing it is hovering around the $1,800 mark.

There's been a recent price jump, breaking above a key resistance level, but Ethereum closed April slightly in the red.

Analysts note Ethereum has recorded several consecutive months of negative returns, a trend not seen since 2018. However, historical data suggests May is often a positive month for Ethereum.

Some analysts suggest Ethereum's price performance mirrors Bitcoin's 2020 rally, indicating potential for future growth.

Fidelity's Ethereum ETF has seen daily inflows, indicating growing institutional interest.

Ethereum Network and Development:

Aztec Network launched a public testnet for its privacy-focused Ethereum Layer 2 solution. This aims to bring programmable privacy to Ethereum while maintaining transparency, allowing developers to build dApps with integrated privacy features.

Ethereum developers are testing a significant increase in the gas limit for the Fusaka hard fork.

The upcoming Pectra upgrade aims to enhance the security and functionality of the Ethereum network, incorporating Verkle trees for more efficient data storage and transaction processing.

General Ethereum Trends:

Tether has minted a substantial amount of USDT on the Ethereum network in the past year.

Ethereum transitioned to a proof-of-stake (PoS) model with the Ethereum Merge in 2022, significantly reducing its energy consumption.

Ethereum supports smart contracts and hosts many other cryptocurrencies (tokens) through its ERC-20 standard.

Ethereum faces competition from other blockchains that offer cheaper and faster transactions.

Overall Sentiment:

The sentiment around Ethereum is mixed. While there are concerns about recent price performance and competition, developments in Layer 2 solutions, potential ETF growth, and upcoming network upgrades suggest ongoing development and adoption.