$ETH As of May 9, 2025, Ethereum (ETH) is trading at approximately $2,444.75, reflecting a notable surge following the successful implementation of the Pectra upgrade on May 7. This upgrade, the most significant since the 2022 Merge, introduced 11 Ethereum Improvement Proposals (EIPs), aiming to enhance transaction speed, reduce costs, and improve wallet usability.

The market responded positively, with ETH experiencing a 20% increase—the largest single-day gain since 2021—surpassing the $2,100 mark. Technical analyses suggest that if ETH maintains its current momentum, it could test resistance levels between $2,250 and $2,330, with the $3,000 psychological barrier as a potential target.

Despite this bullish trend, ETH's price remains below its 2021 peak of $4,105.90. Analysts caution that while the Pectra upgrade strengthens Ethereum's infrastructure, external factors such as macroeconomic conditions and competition from other blockchains like Solana may influence its short-term performance.

In summary, Ethereum's recent advancements position it for potential growth, but investors should remain vigilant of broader market dynamics.