Is Ethereum (ETH) Poised for a May Uptick? Insightful Forecasts Uncovered

Ethereum (ETH), the second-largest cryptocurrency by market cap, has increased by 16% over a 14-day period and is currently valued at over $1,800. Despite this, its performance in the past few months has been subpar. However, industry observers note that May has historically been a strong month for ETH, with only three out of ten Mays posting losses.

With the highest average gains of around 27.31%, many expect a significant surge if key resistance levels are broken. Predictions of a potential short-term scenario target $2,120 as the next key resistance, with a quick move towards $2,800 if breached.

Additionally, increased ETH outflows from exchanges over the last week suggest investors moving to self-custody, a bullish sign due to reduced selling pressure.