#ETHCrossed2500
Ethereum's current price is around $2,532.90, with a 40.34% increase in the last week and a 54.90% surge in the past month. This upward trend is supported by several factors¹:
- *Bullish Market Sentiment*: The Fear and Greed Index indicates "extreme greed," suggesting strong bullish sentiment in the market.
- *Technical Indicators*: Ethereum has formed golden crosses on its one-hour and four-hour charts, signaling potential short-term bullish momentum. Additionally, the price has surpassed the 50-day moving average, hinting at a trend reversal.
- *Pectra Upgrade*: The recent Pectra upgrade, which went live on the mainnet on May 7, aims to improve scalability and decentralization. This upgrade has boosted investor confidence and contributed to the price surge.
- *Derivatives Market*: The derivatives market shows rising Open Interest and long dominance, pointing to higher price targets. Ethereum's Open Interest surged 2.65% to $21.35 billion, and options volume rose 40.34% to $594.76 million.
*Potential Price Targets:*
- *Short-term*: Ethereum's price could challenge the $1,950 and $2,050 zones if macro momentum and developer updates stay aligned. Some analysts predict a potential upside breakout, with the upper Bollinger Band at $1,938 serving as a near-term resistance level.
- *Long-term*: Predictions suggest Ethereum could reach $10,000 by the end of 2025, driven by a projected $250 billion capital inflow into the crypto market.
*Key Factors to Watch:*
- *Market Sentiment*: Any shift in market sentiment could impact Ethereum's price movement.
- *Developer Updates*: Continued developer activity and updates could support Ethereum's long-term growth prospects.
- *Macroeconomic Factors*: External factors like interest rates and global economic trends could influence Ethereum's price.²
