#CryptoComeback
The crypto market is experiencing a significant comeback, led by major players like Ethereum and Bitcoin. Here are some key developments ¹ ²:
- *Ethereum's Surge*: Ethereum broke the $2,200 mark on May 8, 2025, with a 22% surge in a single day. This rapid increase is attributed to a strong technical breakout and renewed buying appetite.
- *Technical Indicators*: The Relative Strength Index (RSI) rose from 56 to 66 in 24 hours, signaling a strong reversal. Transaction volumes have also increased, with dominant green candles on daily charts.
- *Fundamental Data*: Ethereum's Total Value Locked (TVL) climbed 41% in one month, reaching $52.8 billion. Daily transactions on the network increased by 22%, emphasizing a concrete return of on-chain activity.
- *Pectra Update*: The recent deployment of the Pectra update aims to optimize network architecture, laying the groundwork for efficiency and scalability gains. This technological evolution could enable Ethereum to reinforce its leadership.
- *Bitcoin's Performance*: Bitcoin is trading at $102,575, with a 5.31% increase. Analysts predict that Ethereum's price gap with Bitcoin could set the stage for a comeback.
- *Market Sentiment*: The crypto community is abuzz with speculation, but some caution that supply pressure, weak demand, and flat activity could stall a rebound.
*Key Resistance Levels for Ethereum:*
- $2,500-$3,500: Potential major bullish reversal target
- $2,800: Next estimated technical resistance before targeting the psychological $3,000 threshold
*Market Outlook:*
Some analysts see Ethereum's current undervaluation compared to Bitcoin as a key signal for potential outperformance. However, the market remains uncertain, with some predicting a shift in momentum in May, historically Ethereum's strongest month ².
