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Ethereum Price Prediction Afte...

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Ethereum Price Prediction After Pectra Upgrade: $3,000 Next Target?

Ethereum (ETH) has exploded past $2,200, surging over 20% in the past 24 hours as multiple catalysts converged to fuel a dramatic rally.

Arslan Butt•Friday, May 9, 2025•2 min read



Quick overview

Ethereum has surged over 20% in the past 24 hours, breaking past $2,200 and indicating potential upside toward $3,000.

The recent Pectra upgrade has significantly enhanced Ethereum's capabilities, rebuilding investor confidence and improving staking efficiency.

Positive macroeconomic developments, including a trade agreement between the US and UK, have contributed to the overall market optimism supporting Ethereum's rally.

Institutional interest in Ethereum is growing, with Total Value Locked increasing by 41% and notable purchases from firms like Abraxas Capital.

Ethereum ETH/USD has exploded past $2,200, surging over 20% in the past 24 hours as multiple catalysts converged to fuel a dramatic rally. The second-largest cryptocurrency has broken out of a six-month downtrend, with technical indicators suggesting further upside potential toward $3,000.

Ethereum price analysis

How Pectra Upgrade Transforms Ethereum’s Capabilities

The main cause of the current price movement has been Ethereum’s Pectra update implemented successfully on May 7. Since the 2022 Merge, this is Ethereum’s most significant protocol update.

“The recent Pectra upgrade has rebuilt confidence in Ethereum,” Presto Research research analyst Min Jung said. “It’s not shocking that buyers are coming in at these levels given ETH/BTC down by almost 40% this year.”