$ETH

As of May 16, 2025, Ethereum (ETH) is experiencing a dynamic market scenario. After a period of underperformance compared to Bitcoin, ETH has shown signs of recovery in May, with a notable price increase. Currently trading around $2,570 - $2,620, ETH is attempting to solidify its position above the $2,500 support level and target the $2,654 resistance, with a longer-term psychological target of $3,000 in sight.

Several factors are influencing this current scenario. The recent completion of an upgrade cycle and steady growth in staking participation have renewed investor interest. Ethereum-based layer-2 solutions continue to secure significant value, reinforcing the underlying demand for ETH for settlement.

However, there's also selling pressure from long-term holders, indicating some caution about sustained price increases. Overall market conditions and potential risk aversion among investors could also impact ETH's trajectory. Technical analysis suggests a potential for further upward movement if ETH can maintain support levels, while a drop below $2,344 might signal a deeper correction.