Ethereum’s price has surged over 37% this week, reaching a peak of $2,600, marking its strongest 3-day rally since May 2021. This upward trend is largely attributed to the recent Pectra network upgrade, which enhances Ethereum’s functionality and efficiency. 
Investor confidence is further bolstered by significant institutional interest, exemplified by Abraxas Capital’s acquisition of 185,309 ETH valued at approximately $400 million. 
However, traders should remain cautious. If Ethereum’s price falls below $2,400, it could trigger liquidations totaling $1.12 billion on major exchanges. Conversely, surpassing $2,600 may lead to $818 million in short liquidations, potentially driving prices higher.  
In summary, Ethereum is currently exhibiting strong bullish behavior, supported by technical upgrades and institutional investments. Nonetheless, market participants should be aware of potential volatility and key price thresholds that could influence short-term movements.
