#ETHMarketWatch

As of May 23, 2025, Ethereum (ETH) is trading at approximately $2,656.64 USD, reflecting a modest increase of 0.25% over the past 24 hours. The day's trading has seen ETH reach a high of $2,721.12 and a low of $2,634.06. Ethereum maintains its position as the second-largest cryptocurrency by market capitalization, with a circulating supply of around 120.73 million ETH.

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*Technical Insights*

Recent analyses suggest that Ethereum is exhibiting a bullish trend. Notably, ETH is forming a bull flag pattern on the daily chart, indicating potential for further upward movement. A breakout above the $3,600 level could signal a significant rally, as historical patterns have shown similar setups leading to substantial gains .

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The Ethereum market sentiment remains cautiously optimistic. Factors contributing to this outlook include ongoing developments in the Ethereum ecosystem, such as upgrades to the network and increasing adoption of decentralized applications (dApps). However, investors should remain aware of broader market dynamics and potential volatility.