$ETH 📢📢 Surprise in the ecosystem due to a significant movement in the price of Ethereum 📢📢
Ethereum #ETH is trading this Sunday, May 11, 2025, at USD 2477, consolidating a weekly increase of over 35% that took it from USD 1800 to a peak of USD 2604.
The rally began on May 7, when ETH broke a multi-month bearish structure and surpassed key resistances in the USD 2300–2400 zone. Since then, the price has maintained a sustained upward trend, driven by technical and fundamental factors.
What is driving Ethereum's rise?
One of the most relevant catalysts has been the update of the Ethereum network known as 'Petra', which increased the ETH burn rate and reduced the circulating supply, creating a deflationary effect.
Additionally, there was a strong institutional accumulation: in less than a week, more than USD 695 million in ETH was withdrawn from exchanges, suggesting strategic purchases by large investors.
From a technical analysis perspective, ETH broke a symmetrical triangle formation with high volume, which triggered bullish continuation signals. Currently, the price is testing the USD 2470–2480 zone, which coincides with the upper limit of its previous consolidation range.
Short-term outlook
If ETH manages to consolidate above USD 2600, analysts project a next target in the USD 2700 zone, which represents the 0.618 Fibonacci retracement of the previous bearish cycle.
However, some experts warn of a possible profit-taking in the short term, given that the price has risen more than 40% in just a few days. Key supports are located at USD 2300 and USD 2145, the latter corresponding to the 50-period exponential moving average on 4-hour charts.
In summary, Ethereum is experiencing its best week so far in 2025, with solid fundamentals and renewed institutional interest. If it maintains the momentum, it could approach its all-time high in the coming weeks.