Ethereum ($ETH )

has recently experienced a significant rally, surging over 20% in the past 24 hours, fueled by the Pectra upgrade and increased institutional interest .

Currently, Ethereum is trading around $2,605.30, with a slight decrease of 0.032% from the previous close.

Analysts suggest that if $ETH breaks above the $2,700 resistance level, it could target $3,000 in the near term .

However, potential risks include global market instability and regulatory decisions that could impact $ETH prices .

Overall, the outlook for Ethereum in the next 24 hours remains cautiously optimistic, with the potential for further gains if positive momentum continues.