$ETH As of May 16, 2025, Ethereum (ETH) is trading at approximately $2,596, reflecting a significant rebound from its early May lows near $1,800. This resurgence is largely attributed to the successful implementation of the Pectra upgrade, which has enhanced transaction speeds, reduced costs, and improved wallet usability.

๐Ÿ” Technical Overview

Resistance Levels: Key resistance is observed around $2,700, with further barriers at $2,850 and $2,900. A decisive break above these levels could signal continued bullish momentum.

Support Levels: On the downside, support is noted between $2,250 and $2,300, providing potential entry points for buyers in case of a pullback.

Indicators: The Relative Strength Index (RSI) is currently above 77, indicating overbought conditions. While this suggests potential for a short-term correction, the overall trend remains positive.

๐Ÿ“ˆ Market Sentiment and Institutional Interest

Despite Ethereum's recent price gains, institutional interest remains comparatively subdued. U.S.-listed Ether ETFs have experienced net outflows, highlighting a cautious stance among professional investors. However, Ethereum continues to dominate the decentralized application ecosystem, with over $63 billion in total value locked, underscoring its foundational role in the crypto space.

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