$ETH

On Friday, May 16, 2025, Ethereum (ETH) shows steady growth and is trading around $2,603, which is 1.8% higher compared to the previous day. The daily range fluctuated from $2,497 to $2,631.

Technical Analysis and Short-Term Outlook

Support: The $2,560–$2,570 level serves as key support, coinciding with the 20-day moving average and the Bollinger middle band.

Resistance: The nearest resistance is in the $2,710–$2,745 range. Overcoming this level could pave the way to $2,800 and beyond.

Indicators: The Relative Strength Index (RSI) is in the neutral zone, indicating balanced buying and selling pressure.

Fundamental Factors

Institutional Investments: BTCS Inc. invested $57.8 million in Ethereum, strengthening the confidence of institutional investors.

Pectra Update: A recent update to the Ethereum network called Pectra has been successfully implemented, contributing to the further development of the ecosystem.