#ETH🔥🔥🔥🔥🔥🔥 As of May 16, 2025, Ethereum $ETH is trading at approximately $2,627.81, reflecting a 3.24% increase over the past 24 hours.

📈 Market Overview

$ETH has experienced a significant rally, surging over 50% from its April lows. Despite a recent pullback from a high of $2,736, the cryptocurrency maintains strong bullish momentum. Key resistance is identified at $3,100, with support around $2,233, suggesting potential for further gains if bullish sentiment continues .

🔧 Pectra Upgrade

Ethereum's recent Pectra upgrade is its most substantial since the 2022 Merge. This update enhances transaction speed, reduces costs, and increases staking flexibility by raising the cap from 32 ETH to 2,048 ETH per validator. These improvements aim to bolster Ethereum's scalability and usability .

📉 Exchange Reserves

Notably, Binance's Ethereum reserves have decreased by nearly 300,000 ETH over the past month. This significant outflow may indicate increased investor confidence and a shift towards long-term holding strategies .

🔮 Future Outlook

Analysts suggest that $ETH could reach $5,000 in 2025, driven by factors such as AI adoption, potential spot ETH ETF inflows, and the positive impacts of the Pectra upgrade . However, it's important to note that Ethereum's price remains approximately 44% below its all-time high of $4,721.07 achieved in November 2021 .