Ethereum's Price Surge: A Historic Week

#Ethereum has just experienced its best performance since May 2021, surging over 37.5% this week. This explosive rally is being driven by several key factors, including a new US-UK trade agreement, the Pectra upgrade, and a massive short squeeze.

The Pectra upgrade has introduced game-changing features like higher staking limits and account abstraction, making $ETH more versatile and attractive to investors, fueling its price increase. Meanwhile, a short squeeze has added fuel to the fire, with $437.94 million in short liquidations and $211.29 million in long liquidations recorded. This surge is also being supported by significant mega-whale accumulation, with large investors stacking up more Ethereum.

With $ETH now bouncing off key support levels, the next few months could bring a potential 40% rally toward the $3,400 mark. The momentum looks strong, and Ethereum could be gearing up for even more growth ahead.